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 […]
Tag Archives | auto sales
Japan has an ageing population. Since 1990, it has relied on exports to boost its economy. Yesterday, official figures showed industrial production is now being badly affected by the global recession. Output fell 3.1% in October, and a 6.4% decline is expected in November. Observers forecast the September – December period could see an “unprecedented” […]
BMW, the world’s largest luxury car manufacturer and owner of Rolls Royce motors, today abandoned its August forecast of record auto sales and a 4% operating margin for 2008. CEO, Norbert Reithofer, was in downbeat mood, saying that “the financial crisis is by no means behind us yet, particularly its impact on the real economy […]
The blog prefers to be optimistic. But 30 years in the chemical industry has taught it to be extremely realistic. So its motto for 2009 Budgets is ‘batten down the hatches’. Chemical companies are likely to be sailing in some very rough seas, with treacherous currents and plenty of dangerous rocks. Survival, not growth, is […]
Collapsing housing markets are creating major problems for chemical companies worldwide. Now JD Power, the leading auto industry research firm, is warning that ‘the global auto market in 2009 may experience an outright collapse.’ They add that ‘while mature markets are being impacted more severely than emerging markets, no country or region is completely immune […]
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 for many petchem products had simply stopped. As Nigel Davis notes in an excellent ICIS insight article, we are not there yet. […]
September was another difficult month for the cornerstones of US chemical demand, autos and housing: • GM cut prices dramatically via its ‘Employee discount for everyone’ programme. But even so, sales fell 16% versus last year (blue column) • Toyota (red column), fell 30% • Ford (green column) fell 34% • Chrysler (purple column) fell […]
Many readers have been out of the office during August on a well-deserved break. I am therefore highlighting below the main postings over the past month, in the hope this will help them to catch up quickly on key developments – please click on the highlighted title if you want to read the original posting: […]
Its now a year since the blog started. Since then, 213 postings have appeared. It is now read in 72 countries and 620 cities (shown above). Most encouragingly, readership continues to steadily increase. Since January, it has risen a further 301%. The blog’s aim is to identify ‘the influences that may shape the chemical industry […]
‘Collapse’ is not a word that should be used lightly in business. But there is no other way to describe June’s US auto sales figures:
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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.