01 September 2011 23:38 [Source: ICIS news]
HOUSTON (ICIS)--US August auto sales increased 8% year on year, according to data released by Autodata on Thursday.
US August auto sales were 1,072,283 units, up from 997,467 units in the same month a year ago.
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 synthetic fibres and paints and coatings.
The American Chemistry Council (ACC) estimates that each automobile contains an average of $2,700 (€1,890) worth of chemicals.
Among the six biggest manufacturers that operate in the US, those based in the US saw significantly higher growth than those based in Japan for the fifth consecutive month.
This is likely a result of production issues stemming from damage caused by the March earthquake and tsunami in Japan.
US-based Chrysler experienced the biggest year-on-year growth in August, up 31%. The company sold 130,119 units in August 2011, up from 99,611 in August 2010.
“In spite of a volatile market, Chrysler managed to significantly outperform the industry again in August,” said Reid Bigland, head of US sales for Chrysler. “I see that trend easily continuing into the fall.”
US-based General Motors experienced an 18% increase year on year, and US-based Ford experienced a year-on-year increase of 11%.
Among the Japanese-based manufacturers, only Nissan reported a year-on-year growth, of 19%. The other two manufacturers experienced year-on-year drops.
Honda was the bigger of the two, experiencing a fall of 24%. Honda had sales of 82,321 units in August 2011, down from 108,729 units August 2010.
“The production plan for most of our models returned to 100% by late August at all of our North American factories,” said Honda vice president John Mendel. “A greater selection of vehicles is beginning to arrive at dealers this month as the company continues to recover from temporary supply disruptions.”
Toyota reported a loss of 13% year on year.
For month on month, US auto sales increased by 1% from July 2011, up from 1,059,601 units.
Chrysler reported the biggest month-on-month gain, of 16%, up from 112,026 units in July 2011. Ford reported the biggest month-on-month loss, down by 3% from 180,315 units in July 2011.
($1 = €0.70)
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