01 July 2010 23:08 [Source: ICIS news]
HOUSTON (ICIS news)--June auto sales in the US were up by 13% compared with the same month last year, according to sales reports released on Thursday, underscoring the sector's rebound out of the 2009 trough and a downstream boost for the petrochemical industry.
The top six US auto sellers moved 777,558 vehicles from car lots last month versus 690,435 vehicles in the same time period in 2009.
Each of the major manufacturers posted year-over-year gains for the third straight month.
The last company to show negative year-over-year sales in a month was Chrysler in March, but it led the pack in June with the heftiest percentage increase.
General Motors (GM) recorded the largest total sales number last month, which the company said was bolstered by increased sales of pickup trucks.
"As companies continue to invest in their businesses, we expect this segment to continue to recover," Don Johnson, GM's vice president of sales, said in its release of sales. "We think the release of some pent up demand in the pickup market is an indication that a fundamental part of the US economy is gradually strengthening."
Toyota continued to shrug off the safety debacle it encountered earlier in the year and extended its strong sales in the US.
"Although the entire automotive industry struggled in June as weakening consumer confidence weighed on sales, Toyota maintains its leadership position as the number one retail brand in the industry year-to-date," Toyota USA chief executive Jim Lentz said in a statement.
The uptrend in US auto sales triggers optimism for chemical demand with $2,700 (€2,214) worth of chemical products or chemical processing value used in every US-made vehicle, according to the American Chemistry Council (ACC).
However, the June sales figures annualised are still under 10m vehicles, a far cry from the 16m cars sold per year in the US before the industry's fall in 2008 and 2009.
The table below reflects June sales.
?xml:namespace> 2010 2009 Total Total % change Chrysler 94,482 68,297 38 Ford 175,895 155,195 13 GM 195,380 176,571 11 Honda 106,627 100,420 6 Nissan 64,570 58,298 11 Toyota 140,604 131,654 7 Total 777,558 690,435 13
($1 = €0.82)
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