US Feb auto sales jump 27.3% year on year, may raise chem demand

01 March 2011 22:30  [Source: ICIS news]

HOUSTON (ICIS)--US February auto sales of passenger cars and light trucks increased by 27.3% year on year, according to sales data released on Tuesday, potentially raising demand for several chemicals.

The US automobile industry is a major demand segment for chemicals such as acrylonitrile-butadiene-styrene (ABS), styrene butadiene rubber (SBR), nylon 6,6 and several other synthetic fibres, paints and coatings.

The American Chemistry Council (ACC) estimates that each automobile contains an average of $2,700 (€1,944) worth of chemicals.

Total sales for February 2011 were 993,387 units, up from 780,265 units in February 2010, according to Autodata.

Each of the six largest manufacturers in the US - General Motors, Ford, Chrysler, Toyota, Honda and Nissan - reported a year-on-year increase. General Motors saw the biggest jump of 46.4%.

Toyota and Nissan each reported increases of more than 30% year on year.

Meanwhile, sales for auto manufacturers outside the big six increased by 22% year on year, to 202,750 units in February 2011 from 166,126 units a year ago.

"After two months of improving sales, we feel good about the way 2011 has started," said Toyota USA vice president and general manager Bob Carter. “We plan to keep the momentum going in March."

Month on month, US auto sales were up by 21.2%, with each of the six largest manufacturers noting increases. The biggest jump came from Chrysler, at 35.6%.

The table below reflects February sales data

	2011 Feb	2010 Feb	% Change
Chrysler	95,102	84,449	13
Ford	156,232	137,365	14
GM	207,028	141,438	46
Honda	98,059	80,671	22
Nissan	92,370	70,189	32
Toyota	141,846	100,027	42
Total	790,637	614,139	29

 

($1 = €0.72)

For more on ABS and SBR visit ICIS chemical intelligence

By: John Dietrich
713-525-2600

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