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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...

Posted to ICIS Blogs (Weblog) by Anonymous on 11-03-2008
Kerkorian down $650m: Lahde up 1000%: Buffett buys

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, he spent $1bn on buying a 6.3% stake in Ford Motor...

Posted to ICIS Blogs (Weblog) by Anonymous on 10-21-2008
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...

Posted to ICIS Blogs (Weblog) by Anonymous on 10-10-2008
Auto sales fall around the world

August was a bad month for US auto sales. GM said sales were down 20%, Toyota were down 9%, Ford down 26% and Chrysler fell 35%. They even lost 4th place in US ranking, as Honda's sales fell 'only' 7%. This set the blog wondering about relative performance, and the chart shows the result...

Posted to ICIS Blogs (Weblog) by Anonymous on 09-14-2008
1/3rd of US auto suppliers risk bankruptcy

US/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...

Posted to ICIS Blogs (Weblog) by Anonymous on 08-12-2008
US auto sales collapse in June

'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: GM reported June sales down 15% Toyota were down 12% Ford were down 28% Chrysler were down 36% These declines came in spite of the fact that 130 million households...

Posted to ICIS Blogs (Weblog) by Anonymous on 07-03-2008
$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...

Posted to ICIS Blogs (Weblog) by Anonymous on 05-04-2008
US auto sales fall again in Q1

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...

Posted to ICIS Blogs (Weblog) by Anonymous on 04-03-2008

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