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)

To discuss issues facing the chemical industry go to ICIS connect


By: John Dietrich
713-525-2600



AddThis Social Bookmark Button

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