US auto slowdown to hurt chems - ACC

05 September 2007 22:10  [Source: ICIS news]

HOUSTON (ICIS news)--US automobile sales in August fell below expectations, and the industry's continued problems will hurt demand for chemicals, an economist said on Wednesday.

North American vehicles contain an average of  about $2,200 (€1,600) in chemicals, said Kevin Swift, economist for the American Chemistry Council (ACC).

Moreover, each vehicle has an average of 335 lb (152 kg) of polymers, Swift said.

GM, Ford, Chrysler and Toyota released automobile sale statistics this week.

GM dealers in the US delivered 388,168 vehicles in August, up more than 5% when compared with the same time last year.

Toyota reported US August sales of 233,471, down 2.8% from the same time last year.

Ford's sales in August were 218,332, down 14% from the same time last year.

Chrysler reported US sales of 168,203 automobiles in August, down 6% from the same time last year.

Swift said US automobile sales have dropped as a result of rising gasoline prices and falling house sales.

($1.00 = €0.74)

By: Al Greenwood
+1 713 525 2645

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