US Oct auto sales rise 13% year on year, boosting chem demand

03 November 2010 20:07  [Source: ICIS news]

HOUSTON (ICIS)--October auto sales were up 13% year on year while down 1% from September sales, according to sales reports released on Wednesday.

Improved US auto sales typically increase chemical demand, with $2,700 (€1,917) worth of chemical products or chemical-processing value used in every US-made vehicle, according to the American Chemistry Council (ACC).

The October total rose to 745,522 units from 658,582 a year ago. Five of the six largest US manufacturers posted year-on-year gains of at least 10%, led by Chrysler’s reported rise of 37%.

“Chrysler Group remains on track, as our monthly sales continue to improve over last year," said Fred Diaz, lead executive for US sales. "Our new Jeep Grand Cherokee created a consumer buzz that generated showroom traffic and sales.”

Chrysler sales rose to 90,137 units for October 2010, up from 65,803 one year ago. Year-on-year sales for Ford, General Motors, Nissan and Honda each rose between 13% and 19%.

Toyota was the lone manufacturer to see a year-on-year decline, as sales fell to 145,474 units for October 2010 from 152,165 units in October 2009, a decrease of 4%.

Overall sales were down slightly from September, as were total selling days. September had 28 days, while October had 27.

General Motors showed the largest month-on-month sales gains, going up to 183,392 in October from 173,155 in September, a 6% increase. Honda was the only other of the big six to show a month-on-month gain with a 1% rise in sales.

“Our October results show that our focused plan is working, as our four brands continue to grow,” said Don Johnson, vice president of US sales operations for General Motors.

The other four manufacturers saw month-on-month sales fall between 1% and 10%. Overall, sales fell from September’s total of 752,833 units.

The table below reflects October sales.

Company	2010 sales	2009 sales	% change
Chrysler	90,137	65,803	37
Ford	157,935	132,483	19
GM	183,392	162,514	13
Honda	98,811	85,502	16
Nissan	69,773	60,115	16
Toyota	145,474	152,165	-4
Total	745,522	658,582	13

($1 = €0.71)

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By: John Dietrich
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