24 September 2013 16:27 [Source: ICIS news]
HOUSTON (ICIS)--When automakers report September sales next week, those petrochemical firms that supply the raw materials for resins, fibres and other materials should not panic, sources said on Tuesday.
Because US Labor Day was counted in August sales due to the holiday weekend beginning on Saturday, 31 August, ?xml:namespace>
In other words, the mild September sales uptick is a result of the calendar, not any slowdown in the business.
"It has everything to do with how Labor Day fell and nothing to do with the actual sales pace," one
"Although the year-over-year sales gain in September is smaller than has been observed in recent months, it's important to recognize that September reported sales are being heavily influenced by a quirk on the industry sales calendar," John Humphrey, senior vice president of the global automotive practice at JD Power, said in a news release.
JD Power reiterated its 2013
"Volume is expected to get a boost from a higher level of demand, but also from the introduction of new vehicles," JD Power said through its forecasting arm, LMC Automotive.
Among the major
US automakers are expected to report September sales on 1 October.
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