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Total US LDV Sales Down 18.2% by Volume in June 2008; Down 10.1% For First Six Months
1 July 2008
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| Car sales have exceeded those of trucks for four months running. Click to enlarge. |
Light duty vehicle sales in the US dropped 18.2% by volume in June 2008 compared to June 2007, to a total of 1,185,435 units, according to data from Ward’s Auto. On an adjusted day sales rate (DSR) basis, the drop was 2.3%—June 2008 had three less selling days than June 2007. For the first six months of the year, the decrease in sales by volume was 10.1% for all light duty vehicles compared to the same period in 2007.
Passenger car sales saw an 8% decrease by volume in June year-on year, with an increase of 3.5% on a DSR basis. Light truck sales dropped 28.5% by volume in June year-on-year, with a decrease of 19.5% on a DSR basis. For the first six months of 2008, car sales dropped 1.6% by volume, while truck sales have dropped 18%.
Sales of cars have exceeded trucks for four months running now, with cars taking 56% of the market in June 2008.
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| US light vehicle SAAR. Click to enlarge. Data: Autodata |
The SAAR (Seasonally Adjusted Annual Rate of Sales) has dropped 13.1% to 13.64 million units in June 2008, from 15.69 million units in June 2008, according to Autodata. SAAR is a projection of the sales for the year, based on the expected monthly fluctuations in sales volume.
From the SAAR perspective, car sales have ben running essentially flat, with a SAAR of 7.63 million units in June 2007 dropping 1.3% to 7.53 million units. Light truck sales, however, have been hammered, with a 24.3% drop in SAAR from 8.06 million units in June 2007 to 6.11 million units in 2008.
According to the SAAR calculations, cars will have a 55.2% share of the market in 2008, compared to 44.8% for light trucks.
July 1, 2008 in Sales | Permalink | Comments (9) | TrackBack (0)
Comments
Posted by: | July 01, 2008 at 10:32 PM
The cheapest cars also tend to have the lowest fuel consumption...
Posted by: Dave | July 01, 2008 at 11:48 PM
Also, if people are driving less it reduces the rate at which vehicles fail and must be replaced.
Posted by: Paul F. Dietz | July 02, 2008 at 05:26 AM
Where do we get numbers on aftermarket and OEM replacement parts sales? If those are up, then definitely people are repairing their existing cars rather than replacing.
What are people doing when their leases are done? Buying the vehicle, re-leasing something or doing without?
Are used car prices going up to indicate that the demand for vehicles is met by them or are three-car families settling for becoming two-car families (ad nauseum)?
Posted by: NCyder | July 02, 2008 at 06:52 AM
SUVs and leisure pick-up are pretty damn hard pest to kill, even down they still move. It is amazing that more than 44% of people are still buying SUVs, god forgive them they dont know what they are doing...
Posted by: Treehugger | July 02, 2008 at 08:59 AM
This may be anecdotal, but I've been seeing a lot of new dealer's tag on used SUVs. I figure that people think their are still coming out ahead, by buying uber-cheap used SUVs than "downgrading" to smaller vehicles.
The way I see it, data may support that there will be less new cars on the road, and people may be driving less, but the reduction in fuel usage may not be as significant.
Posted by: Charles S | July 02, 2008 at 10:01 AM
I do believe that minivans and other vehicles with 'load floors' (such as the PT Cruiser) are considered trucks for EPA classification purposes. So the fact that 44% of vehicles sold are 'trucks' likely doesn't mean that that many actual trucks and heavy SUVs are being sold.
That said, a parent at my son's daycare just bought a brand new Escalade. I caught myself just standing there and staring it yesterday morning. Granted, I live in a relatively affluent area, but you don't *stay* affluent by fueling a three ton vehicle at $4.00 per gallon.
Must be nice to have money.
Posted by: Matthew | July 02, 2008 at 11:29 AM
"Fuel prices make SUVs less desirable, but more affordable": http://press.leasetrader.com/archive/2008/06/06/Rising-Gas-Prices-Drive-Down-SUV-Prices.aspx
Have to figure limited availability of cars and high incentives explain both the slight uptick in light truck sales and the slight downtick in car sales.
Posted by: Andy | July 02, 2008 at 07:26 PM
Sorry, high incentives on light trucks.
Posted by: Andy | July 02, 2008 at 07:27 PM
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Yes, but mid-size sedan sales were down 21%, so is it SUV backlash, or just a down economy effecting everything but the cheapest cars?