February brought no relief for the troubled US auto industry, so critical to chemical sales. Sales were down 41% versus 2008. Even more worryingly, sales over the past quarter, and last 6 months, averaged under 10 million/year. Chrysler’s results also show the severe cost of gaining market share. It gained 1.4% in the retail market, […]
Tag Archives | auto sales
European auto sales fell 25% in January, according to JD Power. This equals an annualised rate of just 11m cars, the lowest since the early 1990′s. 13.6m were sold in 2008. And although the forecaster hopes for some improvement later in the year, it suggests that “a late 2010 recovery is the most likely timing”. […]
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 […]
Global chemical production is now falling at an alarming rate, down over 4% in November, as core demand from housing/construction and auto markets collapses. Only the Middle East is now seeing positive growth year-on-year. As the chart shows (using ACC data): • N America is now down 12% • W Europe/C&E Europe are down over […]
In early October, I forecast that we were about to revisit “the scariest moment of my 30 year chemical career”, adding that: “The moment the blog has long feared, and warned about, may be about to arrive. It appears that we may be about to revisit 1980, when for some weeks it seemed that demand […]
European auto sales fell 8.4% in 2008, versus 2007. Sales of 13.56m autos were just ahead of the USA’s 13.2m. European volumes continue on a worsening trend, with December down 19% versus last year: • Spanish sales were down 50% • Sweden was down 45% • The UK was down 21% • The Netherlands were […]
December was another bad month for US auto sales, with volumes down 36% versus 2007. Total 2008 sales of 13.2 million were the lowest since 1992, when the economy bottomed in the 1990-4 recession. As the chart shows, sales volumes dropped continuously during 2008. They were down 10% in Q1, and then Chrysler and Ford’s […]
The blog is now 18 months old. It has a truly global readership, and as shown in the above map, is now read in 1244 cities and 89 countries. Its aim has always been to identify ‘the influences that may shape the chemical industry over the next 12 – 18 months’, and to ‘develop useful […]
Several European chemical companies have been undertaking surveys of likely near-term demand from the auto sector, and have been kind enough to share their conclusions with the blog. The results are not encouraging. It appears that every European car producer has announced plans for an extended Christmas shutdown of at least 2 weeks, compared to […]
US auto makers today told Congress their “rescue plan” now needs $34bn in support, whilst GM and Chrysler said they need an $11bn loan “just to survive the year”. US sales were down 37% in November, and are at their lowest annual rate since 1982: • GM were down 41% versus 2008 • Ford were […]
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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 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.