Chicago Auto Show 2011
February 8, 2011 by staff
“January is a month during low season, but we believe the industry has made a good show for the month with gains in solid volume, reiterating positive momentum in the fourth quarter,” said Efraim Levy, ananlyst at Standard & Poor’s Equity Research.
“Another positive point that we see in the reports of both companies is that sales are driven by consumers, bodes well for future demand, even though the rental fleet sales declined for both Ford and GM. “
Total sales rose 17 percent to 819,895 vehicles in January, according to Autodata. The seasonally adjusted annual rate rose to 12.62 million vehicles from 12.55 in December.
GM, the largest U.S. automaker, said sales of 22 percent roared over 178,896 vehicles in January, driven by strong demand for its fastest cars and trucks. Its market share of key U.S. rose 0.9 points to 21.8 percent, according to Autodata.
It’s much better thananlysts had anticipated automotive website Edmunds.com, an increase of 11 percent.
“The gain was driven by solid retail sales that were 36 percent higher than a strong January a year ago,” said the company, which emerged from a restructuring financed by the government under the protection of bankruptcy 2009.
“January reflects a strong start to the year for us, for industry and for the whole economy of the United States,” Don Johnson, vice president of sales operations in the United States said in a conference call.
“The outlook as a result remains very optimistic.”
Chrysler said sales jumped 23 percent to 70,118 vehicles in January, the 10th consecutive month of increased sales over twelve years, its share rose 0.4 points to 8.6 percent.
“We have laid the groundwork for a year of sales growth with our 16 all-new or significantly redesigned models for 2011,” said Fred Diaz, Chrysler sales executive.
“We started the year on a good note, and we intend to continue to gain sales momentum as the new 2011 models hit dealerships during the first quarter.”
Chrysler has also been forced to bankruptcy after government-backed auto sales collapsed in late 2008, but said Monday it expects a profit this year after cutting losses in 2010.
Although the results were weaker than expected a 32 percent gain, they are still very strong, “noted Jessica Caldwell, ananlyst at Edmunds.com.
“The year of increase year over Chrysler is particularly impressive considering how much they sold the fleet this time last year,” said Caldwell.
Ford percent gain from 13.3 to 127,317 vehicles was in line with expectations after the automaker has reduced sales of low margin fleet customers. However, its share declined 0.5 points to 15.5 percent, according to Autodata.
Ford – who has survived the crisis without government help, and doubled its earnings in 2010 to its highest annual gain in a decade – said retail sales rose 27 percent in January.
“We begin 2011 in a strong position – ready to meet the needs of a wide range of customers with a complete portfolio of high quality, fuel efficient vehicles,” said Ken Czubay, vice president of Ford for the United U.S. marketing, sales and service.
“We have made an excellent start in 2011 with the largest increase in retail sales in January over a decade.”
Toyota – which has been hard hit by a series of recalls of mass leading to briefly suspend sales and production in the United States in late January 2010 – has seen its sales rose 17.3 percent to 115 856 vehicles compared to depressed levels of last year.
Its share remained stable at 14.1 percent.
“We are encouraged by the results of last month, showing continued strength in the passenger and light truck segments,” said Bob Carter, general manager of Toyota Motor Sales, USA.
“Retention rate and conquest have returned to historical levels, and we believe that our” # 1 for a reason “advertising campaign, launching this month, will continue our momentum first sales.”
Honda posted a gain of 13 percent to 76,269 vehicles while its share declined 0.4 points to 9.3 percent.
Nissan’s sales rose 15 percent to 71,847 as its share declined 0.2 points to 8.8 percent.
Hyundai’s sales rose 22 percent to 37,214 vehicles share increased 0.1 points to 4.5 percent.
Copyright © 2011 AFP. All rights reserved.
Please feel free to send if you have any questions regarding this post , you can contact on
Disclaimer: The views expressed on this site are that of the authors and not necessarily that of U.S.S.POST.