The European car market – if taken together, the world’s second largest behind China and before the U.S. – continues its slow drift to the bottom. Sales in May were down by 8.7 percent in the EU. This is the eighth month in a row that sales are in minus territory. Five months into the year, the market is down 7.7 percent. (Read More…)
If you read Volkswagen’s global sales report for May, you get the impression that this was yet another great month. Global sales are up 7.8 percent in May. Things don’t look so rosy when you analyze the numbers a bit further. (Read More…)
The analysts polled by Bloomberg should wear a bullet-proof vest and avoid dark alleys for a while. To a woman and a man, the analysts were too exuberant, guessing way too high for May. Despite a respectable 13 percent gain, the market came in below the expectations created by analyst predictions, which sent car stocks broadly lower yesterday.
Today, the wayward soothsayers receive their just punishment. (Read More…)
GM up 11 percent. Ford up 13 percent. Chrysler up 30 percent. Nissan up 21 percent. Volkswagen up 28 percent. Toyota up a whopping 87 percent. A few months ago, these numbers would have set champagne corks and fireworks flying. Today, these numbers were greeted by a communal meh and by stocks of automakers going south. (Read More…)
When new car sales will be announced on June 1, sales could be up by 30 percent, thinks Kelley Blue Book. When sales approach 1.4 million units, or 14.2 million seasonally adjusted annual sales rate (SAAR) in May, Kelley expects GM and Ford to underperform the market, while Toyota could nearly double its sales and surpass Ford in market share. (Read More…)