Tag Archives: autos

New-Vehicle Retail Sales Volume Deteriorates as August Closes

WESTLAKE VILLAGE, Calif., Aug. 31, 2011 /PRNewswire/ — The August new-vehicle retail sales pace has declined sharply during the second half of the month, as the impact of negative variables—weak consumer confidence, delayed purchases in the hopes of bargains, and inclement weather—take hold, according to J.D. Power and Associates, which gathers real-time transaction data from more than 8,900 retail franchisees throughout the United States.

The August retail seasonally adjusted annualized rate (SAAR) is expected to come in at 9.7 million units, which is an improvement from July’s 9.5 million unit SAAR. The total light-vehicle selling rate is expected to be 11.9 million units, a slight decline from July’s 12.2 million units as a result of a weaker fleet mix.

“With the economic woes, summer vacations and Hurricane Irene taking center stage, August may be a lost month for vehicle sales, but the slight increase in the retail selling rate from last month is still a step in the right direction,” said Jeff Schuster, executive director of global forecasting at J.D. Power and Associates. “Marketing and incentive focus has already shifted to September with the upcoming Labor Day weekend, so with improved inventory, the sales pace could show marked improvement next month.”

U.S. Durable Goods Order Drop Much More Than Expected

The commerce department released its advance report of April durable goods orders. Due to a slump in auto and aircraft manufacturing, durable goods orders dropped 3.6%, a much larger decrease than the 2.2% expected by analysts.

New Orders

New orders for manufactured durable goods in April decreased $7.1 billion or 3.6 percent to $189.9 billion, the U.S. Census Bureau announced today. This decrease, down two of the last three months, followed a 4.4 percent March increase. Excluding transportation, new orders decreased 1.5 percent. Excluding defense, new orders decreased 3.6 percent.

Transportation equipment, also down two of the last three months, had the largest decrease, $4.9 billion or 9.5 percent to $46.7 billion.

Shipments

Shipments of manufactured durable goods in April, down following four consecutive monthly increases, decreased $2.0 billion or 1.0 percent to $194.9 billion. This followed a 3.1 percent March increase.

Transportation equipment, also down following four consecutive monthly increases, had the largest decrease, $1.5 billion or 3.0 percent to $46.6 billion.

Unfilled Orders

Unfilled orders for manufactured durable goods in April, up twelve of the last thirteen months, increased $1.6 billion or 0.2 percent to $849.5 billion. This followed a 0.7 percent March increase.

Machinery, up fifteen consecutive months, had the largest increase, $2.2 billion or 2.2 percent to $103.6 billion. This was at the highest level since the series was first published on a NAICS basis in 1992 and followed a 2.1 percent March increase.

Inventories

Inventories of manufactured durable goods in April, up sixteen consecutive months, increased $3.2 billion or 0.9 percent to $350.5 billion. This was at the highest level since the series was first published on a NAICS basis in 1992 and followed a 1.7 percent March increase.

Transportation equipment, also up sixteen consecutive months, had the largest increase, $1.0 billion or 1.0 percent to $106.1 billion. This was also at the highest level since the series was first published on a NAICS basis in 1992 and followed a 2.4 percent March increase.

Capital Goods

Nondefense new orders for capital goods in April decreased $5.3 billion or 7.3 percent to $67.6 billion. Shipments decreased $1.1 billion or 1.6 percent to $66.0 billion. Unfilled orders increased $1.6 billion or 0.3 percent to $495.5 billion. Inventories increased $2.2 billion or 1.4 percent to $157.8 billion.

Defense new orders for capital goods in April decreased $0.5 billion or 5.8 percent to $8.0 billion. Shipments decreased $0.4 billion or 4.5 percent to $8.1 billion. Unfilled orders decreased $0.1 billion to $147.7 billion. Inventories increased $0.2 billion or 0.8 percent to $20.8 billion.

Revised and Recently Benchmarked March Data

Revised and recently benchmarked seasonally adjusted March figures for all manufacturing industries were: new orders, $445.3 billion (revised from $444.2 billion); shipments, $445.2 billion (revised from $443.5 billion); unfilled orders, $847.8 billion (revised from $848.3 billion); and total inventories, $579.6 billion (revised from $578.7 billion).

Source:
U.S. Commerce Department:  http://www.census.gov/manufacturing/m3/adv/pdf/durgd.pdf

 

Ford Succeeds Where Government Motors Fails

In a set of reports today, it became apparent that GM and Chrysler were not keeping up with Ford… at all.

Both Chrysler and GM borrowed billions from tax payers thanks to the current administration. We were even told that a great return on our investment would be forthcoming. Not so. Instead, the companies that have received taxpayer dollars are seeing a 41%+decrease in car sales while Ford, who asked for and received nothing, only saw a minuscule 5% reduction.

The government has broken social security, medicare, medicaid, screwed up the public school system, and not taken care of our broken infrastructure.  At what point did we believe that they could run a car company (let alone two)?

Imagine where we’ll be once the government owns health care…. just imagine.