Tag Archives | GM

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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 […]

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US auto sales at 1992 levels

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 […]

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November US auto sales down 37%

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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GM – “time is very short”

Earlier this week, the blog noted GM’s dire October performance, with its US sales down 45% on last year, following the ending of its price promotions. Now, Roger Altman, the former US Treasury official who is advising GM on its loan application, has told Bloomberg “time is very short” to avoid its collapse. Normally it […]

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GM’s October sales collapse

October’s US auto sales were as bad as expected. But even so, GM still managed a surprise. Once the undisputed market leader, its sales were truly awful, falling 45% versus October last year, as shown in the chart above. A sign of GM’s own shock is that its inventory ballooned to 141 days, whilst Chrysler’s […]

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GM, Ford, Chrysler may face bankruptcy – S&P

Ratings agency S&P warn today that a major recession might force the 3 top US carmakers to file for bankruptcy. Clearly they share JD Power’s fears, noted yesterday, about the potential for an ‘outright collapse’ in global auto markets. S&P says operating cash-flow needs at the firms are ‘substantial’, and adds that they face a […]

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US car sales plummet, house prices fall again

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 […]

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Auto sales fall around the world

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 […]

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1/3rd of US auto suppliers risk bankruptcy

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 […]

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$216.9bn and still rising

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 […]

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