US September auto sales fall 25% year on year

01 October 2008 23:44  [Source: ICIS news]

HOUSTON (ICIS news)--The number of automobiles sold in the US in September fell by 25% year over year, the industry's worst month for 2008, major companies said on Wednesday.

“Consumers and businesses are in a very fragile place,” said Jim Farley, Ford's vice president for marketing and communications. “An already weak economy compounded by very tight credit conditions has created an atmosphere of caution.”

Automobile are an important chemical end market, in that each has an average of $2,200 (€1,562) worth of chemistry, according to the American Chemistry Council said. Automobile parts include rubber hoses, plastic dashboards, catalysts, fibres, adhesives and coatings.

All of the major US producers reported double-digit declines, according to statistics, with Ford reporting the largest drop. In addition, car and truck sales both reported double-digit declines.

“The economy is going through a difficult restructuring, resulting in great uncertainty among consumers," according to a statement by Jim Press, president of Chrysler. “Longer term, we all need to be investing in building a healthier automobile industry and be ready to compete when the economy strengthens.”

	Cars		% Drop	Trucks		% Drop
	2008	2007		2008	2007
Chrysler	31,099	43,681	-29	76,250	116,118	-34
Ford	40,453	50,212	-19	76,281	125,992	-39
GM	118,440	131,371	-10	164,366	203,603	-19
Honda	56,031	71,967	-22	40,595	55,233	-27
Toyota	88,342	117,953	-25	55,918	86,623	-35
Total	334,365	415,184	-19	413,410	587,569	-30

($1 = €0.71)

Paul Hodges studies key influencers shaping the chemical industry in Chemicals and the Economy
To discuss issues facing the chemical industry go to ICIS connect

By: Al Greenwood
+1 713 525 2645

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly