ICIS Blogs : ford

Ford invests (again) in green products

Green Chemicals — Thu, 28 May 2009 08:21:00 GMT

Ford Motor Company is going back to its roots (soybeans specifically) and is now further investing in more eco-friendly materials and products for automobile parts - interior components front to back, seat cushions and fabrics, underbody and impact shields...(read more)

Soy foam market expands

Green Chemicals — Thu, 09 Apr 2009 16:01:37 GMT

Although soy chemicals (excluding biodiesel) account for a very small portion of soybean oil consumption, this news regarding expansion of soy-based chemical development is still a very good news for the US agriculture industry. According to the United...(read more)

US auto sales start to bottom

Chemicals & The Economy — Sat, 04 Apr 2009 20:00:50 GMT

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...(read more)

Obama gets tough on US auto industry

Chemicals & The Economy — Mon, 30 Mar 2009 16:45:20 GMT

There has been plenty of 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...(read more)

US auto sales remain depressed

Chemicals & The Economy — Thu, 05 Mar 2009 06:27:15 GMT

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...(read more)

European auto sales slide continues

Chemicals & The Economy — Mon, 09 Feb 2009 19:24:03 GMT

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...(read more)

GM, Chrysler's US sales collapse

Chemicals & The Economy — Wed, 04 Feb 2009 10:12:59 GMT

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...(read more)

European auto sales to fall 16% in 2009

Chemicals & The Economy — Mon, 12 Jan 2009 11:13:35 GMT

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...(read more)

US auto sales at 1992 levels

Chemicals & The Economy — Tue, 06 Jan 2009 12:20:20 GMT

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...(read more)

November US auto sales down 37%

Chemicals & The Economy — Wed, 03 Dec 2008 14:05:13 GMT

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...(read more)

Dangling the hybrid carrot

Green Chemicals — Tue, 18 Nov 2008 13:15:22 GMT

According to several news reports, majority of US folks (including Congress) are against bailing out the cash-strapped Big 3 automobile makers -- GM, Ford and privately-held Chrysler -- but there are worries especially within environmental groups if the...(read more)

GM's October sales collapse

Chemicals & The Economy — Mon, 03 Nov 2008 20:15:17 GMT

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...(read more)

Kerkorian down $650m: Lahde up 1000%: Buffett buys

Chemicals & The Economy — Tue, 21 Oct 2008 19:06:33 GMT

One of the oldest rules in investment is that 'When a good management finds itself running a bad business, its the reputation of the business that survives'. Legendary US investor Kirk Kerkorian has just proved he is no exception. Back in April...(read more)

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

Chemicals & The Economy — Fri, 10 Oct 2008 16:31:48 GMT

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...(read more)

US car sales plummet, house prices fall again

Chemicals & The Economy — Sat, 04 Oct 2008 19:51:40 GMT

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) •...(read more)