GM, Chrysler’s US sales collapse


January’s US auto sales figures gave no hope that demand is yet bottoming out. Volumes were down 41% versus 2008. As the chart shows, the main pain was felt by GM and Chrysler, who saw sales down 49% and 55% respectively. A key factor in the downturn for both companies was a collapse in fleet sales – which were down 80%.

The only bright spot, if a 30% year-on-year decline can be considered “bright”, is that Ford suggested “retail demand appears to have stabilised”, around this level. But as GM noted, the overall market is now down 6m in terms of vehicle sales versus 2007. A real recovery in this important end-market for chemicals seems as far off as ever.

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.

, , , , , ,

One Response to GM, Chrysler’s US sales collapse

  1. limo hire manchester 27 April, 2009 at 1:22 pm #

    With predictions that the situation will not turn around until 2010, we better brace ourselves for a continued trend of falling demand and consequently sales in the auto industry.

Leave a Reply