August was a bad month for US auto sales. GM sales were down 20% versus 2007, Toyota down 9%, Ford down 26% and Chrysler fell 35%. This set the blog wondering about relative performance , and the chart shows the result. 2007 wasn’t a great year, with only Toyota (the red column) showing a sales […]
Tag Archives | Chrysler
US and European auto sales fell again last month. GM reported total US sales down 27% versus 2007, due to a ‘challenging US economic environment’ Toyota were down 19%, with Lexus sales badly hit, down 25% Ford were down 13%, and said they ‘expected H2 to be more challenging than H1, as economic and credit […]
‘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:
After a while, large numbers lose their power to shock. So Bloomberg and the FT have performed a service this week by reminding us of the scale of losses in the financial sector. They calculate that so far, US and European banks have had to raise $216.9bn of new capital. And, of course, whilst this […]
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 […]
Chemical companies tend to trade on ‘open book’ terms with long-established customers. They are also supportive when those customers are facing problems in their end-markets. In a recession, these admirable qualities can become expensive. ICIS news reports tonight that the bankruptcy of Plastech Engineered Products in the US has led to debts of nearly $5m […]
US autos are one of the major uses for chemicals. The ACC recently calculated that each auto contains $2441 worth of chemistry, with a wide range of companies supplying products such as antifreeze, sealants, coatings and plastics. In 2006, chemical sales to the industry were worth $32.6bn. A downturn in auto sales is therefore not […]
1 in every 196 US households was in receipt of a foreclosure filing at the end of September, according to Bloomberg. This is a scary number for anyone who owns a house. And Quarter 4 is likely to be worse. Latest figures from the Realtors Association show September’s existing home sales down 19.1% from a […]
Alchemists once claimed the ability to turn base metal into gold. More recently, some bankers seem to have been claiming a similar genius, via the magic catalyst of securitisation. These bankers no longer perform their traditional role of lending on a prudent basis to good quality borrowers in the personal or corporate sector. Instead, they […]
Bill Gross runs PIMCO, the world’s largest government bond managers with assets of nearly $700bn. In a new commentary, he pulls no punches about what he sees as the ‘gluttony’ of the super-rich amongst the private equity and hedge fund elite. He also takes aim at the lenders who, in his view, have been ‘too […]
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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.