US June auto sales jump 13% as industry rebound continues

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.

	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)

 

To discuss issues facing the chemical industry go to ICIS connect

By: Ryan Hickman
+1 713 525 2653

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