The U.S. auto market recovery seems fragile
July 1, 2010
Car sales in the U.S. fell in June from the previous month and the major manufacturers do not believe in for the second semester, they foretold the return earlier this year.
The American automotive market, the world's second largest after China, shows a slowdown similar to that suffered by several European markets like France or Spain.
According to figures compiled by the consulting firm Autodata, the market has returned in June to 11.08 million units on an annualized basis (the reference for the sector), against 11.63 million in May
The Big Three U.S. automakers, General Motors, Ford and Chrysler have nevertheless seen their record sales increases in double digits in percentage compared to June 2009, a month marked by the departure of Chrysler from the protection of Chapter 11 of the Act bankruptcy and the bankruptcy of GM.
Chrysler, now came under the operational control of Fiat, has reported a rebound of 35% of its sales in one year. Those of Ford rose 13% over a year and those of GM by 11%, like those of the Japanese Nissan.
The other major Japanese automakers have underperformed Toyota was up 7% over a year and Honda 6%.South Korea's Hyundai has taken its game with a jump of 35% of its sales.
Graph of sales in June:
link.reuters.com/dub45m
The sharp slowdown in the market from one month to the next, while the sector expected to see buyers come back gradually in concessions over the month, allowing an acceleration of market recovery in the second half of the year.
"June has been quite anemic," acknowledged Al Castignetti, sales manager of Nissan USA."I think many people watching the property market and other indicators and they delay their purchases."
LA to pick up slow and bumpy
Some analysts initially hoped to see the market back in 2010 to 12.5 million units, against 10.6 million last year but the forecast now seems out of reach, recognize the manufacturers themselves.
Hyundai table and now on a pace of about 11.3 million units annually, Toyota 11.5 million.
"There is no doubt that the industry's recovery will be slow and the road is bumpy," said Bob Carter, head of Toyota in the United States.
Ford reported a 15% increase over one year of its sales to individuals, which generate higher margins on those sales to rental companies and fleets.
Some analysts and some of the professionals bemoan the fact that auto sales figures are published, without distinction between different categories of buyers, saying it merely hide the weakness of the consumer market.
Ford said the fleet had generated approximately 37% of its sales in June GM refers to its side about 31% of sales with fleets.Chrysler declined to specify this proportion.
For the whole sector, fleets accounted for approximately 20% of global sales in the last five years.
As the only consumer market, Ford believes it could be dropped in June to 8.5 million units in June
If General Motors was no evidence to predict a recovery in private demand during the summer, he does not mean a relapse of the economy into recession.
"The recent economic data continue to move towards a slow recovery but enhanced with some volatility," said Steve Carlisle, director of product planning group, during a teleconference.
"The main uncertainty concerns the possibility of a phase transition between the period of sustained growth by boosting observed in the early growth period and more driven by consumption and investment."
Sorry, comments for this entry are closed at this time.