US auto sales jump 11% in 2010

04 January 2011 23:27  [Source: ICIS news]

HOUSTON (ICIS)--US auto sales of passenger cars and light trucks in 2010 rose 11.1% from the slump of 2009, according to auto sales reports released on Tuesday.

US auto sales finished 2010 at 11,588,783 units, up from 10,430,752 in 2009.

For 2011, US automobile sales were expected to reach 12.8m units, according to IHS Global Insight.

Improved US auto sales typically increase chemical demand, with $2,700 (€2,025) worth of chemical products or chemical-processing value used in every US-made vehicle, according to the American Chemistry Council (ACC).

Among the six biggest US auto manufacturers - General Motors, Ford, Toyota, Honda, Chrysler and Nissan - the largest total year-on-year sales increases came from Ford (19.5%), Nissan (18%) and Chrysler (16.5%).

General Motors and Honda each showed gains of around 7%, while Toyota saw a fall of less than 1%.

For the month of December, US auto sales increased by 11.1% year on year, up to 1,144,739 units from 1,030,126 units. Each of the big six auto manufacturers saw gains of between 28% and 7%, except for Toyota, whose sales fell 5.5%.

“We are truly grateful for the strong loyalty our customers showed the Toyota brand in 2010, and we look forward to a successful year in 2011,” said Don Esmond, a Toyota America vice president.

Nissan and Honda showed the largest increase, each had a December jump of at least 20% year on year.

Month-on-month sales were increased by 23%, with each of the big six posting gains of at least 20%, except for Chrysler.

The table below reflects December sales data.

Company

2010 sales

2009 sales

% change

Chrysler

100,702

86,253

17

Ford

190,191

178,063

7

GM

224,147

206,670

8

Honda

129,616

107,143

21

Nissan

93,730

73,404

28

Toyota

177,488

187,860

-6

Total

915,874

839,393

9


($1 = €0.75)

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By: John Dietrich
713-525-2600



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