EU auto sales were better in September than in either July or August. But ‘better’, of course, is a relative word these days. As the chart shows, they were only down 10% versus 2009 levels, whereas July and August were down 19% and 13% respectively. But in terms of absolute volume, sales at 1.2m were […]
Tag Archives | auto sales
Last year, the US administration spent $2.85bn on supporting the sale of 360k autos, by paying owners of older vehicles to destroy them with sodium silicate. At the time, most people in the chemical industry, and many experts, regarded this ‘cash for clunkers’ programme as being a complete waste of money. And they became even […]
ICIS’ Mark Victory wrote a interesting article this week, in which he tried to relate differing views of the economic outlook to auto demand, the area in which he specialises. The underlying issue, of course, is the complexity of the value chain, where supplies are often ordered months in advance, whilst most data will only […]
Consumer spending is 70% of US GDP. And because US GDP is so large, this means the US consumer is 17% of global GDP. This is the same as the combined GDP of China and Japan, who rank 2 and 3 after the USA. So a change in US consumer spending matters. And it particularly […]
“There are 64.5 million empty apartments and houses in China’s urban areas“, according to Barrons, the US investment magazine. The figure comes from a survey of the country’s electricity meters, undertaken by China’s Academy of Social Sciences. To date, China’s homebuyers remain convinced that home prices cannot fall, as shown by their willingness last year […]
Chemical companies face a clear risk of a synchronised slowdown in demand in all 3 major Regions during H2. • The US is hitting a ‘soft patch’ at best, if not a full ‘double dip’ • China’s demand seems to have already slowed. • Europe, sadly, seems to be following the same path. Not only […]
The US Federal Reserve and the American Chemistry Council (ACC) have joined the blog in expressing concern about the outlook for the US economy. And as the chart above of the US S&P 500 shows, financial markets have continued to weaken since the blog’s advice on 8 May to “sell in May and go away“. […]
Two months ago, on 8 May, the blog suggested that ‘Sell in May and Go Away” was likely to prove good advice this year. Since then, most major stock markets have fallen dramatically, with the S&P 500 down by 9%. The proximate cause of the blog’s pessimism then was the onset of the Greek/eurozone crisis. […]
The blog continues to go from strength to strength. It is now read in 130 countries and 3680 cities, up from 111 countries and 2088 cities a year ago. Its readership is truly global, with the Top 10 countries including Benelux, China, France, Germany, India, Italy, Singapore, Turkey, UK and USA. It has also expanded […]
Each US auto sale is worth $2973 to the chemical industry, according to American Chemistry Council research. And as the chart above shows, current sales remain well below the levels seen in the Boom years. In June 2007, for example, 1.5m autos were sold (black line), in line with 2006 and 2006 performance. They were […]
FREE TRIAL TO ICIS NEWS
LATEST CHEMICAL INDUSTRY NEWS
Paul Hodges is Chairman of International eChem, trusted commercial advisers to the global chemical industry.
The aim of this blog is to share ideas about the influences that may shape the chemical industry over the next 12 – 18 months. It will try to look behind today’s headlines, to understand what may happen next in important issues such as oil prices, economic growth and the environment. We may also have some fun, investigating a few of the more offbeat events that take place from time to time. 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.