US auto sales fall again in Q1

Car sales are of major importance to the chemical industry. The ACC calculates each new car uses $2441 worth of chemistry. The declines reported below for March and Q1 do not, therefore, make pretty reading.

March Q1
GM -13% -11%
Toyota -3% -4%
Ford -14% -9%
Chrysler -19% -16%

Even more discouraging is that none of the main auto manufacturers expect to see any pick-up in sales in the near future. Ford, for example, described the environment as being ‘very challenging’ and said their strategy was to focus on ‘being profitable at lower volume’.

There are also indications that the current downturn has spread from individuals to the wider economy, with Chrysler referring to an ‘industry-wide slowdown in large pick-up truck’ sales.

About Paul Hodges

Paul Hodges is Chairman of International eChem, trusted commercial advisers to the global chemical industry. He also serves as a Global Expert for the World Economic Forum. The aim of this blog is to share ideas about the influences that may shape the chemical industry and the global economy over the next 12 – 18 months. It looks behind today’s headlines, to understand what may happen next in critical areas such as oil prices, China and Emerging Markets, currencies, autos, housing, economic growth and the environment. Please do join me and share your thoughts. Between us, we will hopefully develop useful insights into the key factors that will drive the industry's future performance.

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