Tag Archives | GM

GM.jpg

GM plans 2 month summer shutdown

The prospect of bankruptcy is finally sharpening the knife at GM. As the blog noted last month, inventories are at astronomical levels. 781000 vehicles were in stock at the end of February, and this figure had only dropped by 15000 vehicles during March to 765000 vehicles. This equates to around 6 months supply. Now the […]

Continue Reading
autosMar09.jpg

US auto sales start to bottom

The blog may be over-optimistic, but as with US house markets, it is hopeful that US auto market may have hit at least a temporary bottom. Spring should be a good period for sales, and March saw auto volumes down 37% versus 2008. This was a relatively good performance after February’s 41% decline, but still […]

Continue Reading
autosannMar09.jpg

Obama gets tough on US auto industry

There had been speculation that President Obama’s mid-West background might tempt him to take a soft line on the troubled automotive industry. But his comments on Thursday that there has been “a lot of mismanagement of the auto industry over the past several years”, suggested this was unlikely. Today’s news confirms it: • GM’s CEO […]

Continue Reading
autosFeb09.jpg

US auto sales remain depressed

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, […]

Continue Reading

European auto sales slide continues

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”. […]

Continue Reading
AutosJan09a.png

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 […]

Continue Reading
autosJan09.jpg

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 […]

Continue Reading
autodec.jpg

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 […]

Continue Reading
GM.jpg

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 […]

Continue Reading
autosoct.jpg

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 […]

Continue Reading