Green shoots of recovery emerge in US automotive industry 27th February 2004
Tentative signs of recovery in the US automotive market - the biggest in the world - are continuing to emerge according to one of the industry's major players.
General Motors has declared that whilst February was 'not a great month' for US vehicle sales, there are now indications that the market could finally be picking up.
Chief sales analyst Paul Ballew told Reuters that February had proved uneventful: 'All in all, not a bad month, not a great month, but pretty close to expectations.'
Mr Ballew said that he expects February light-vehicle sales, due to be unveiled next week, to stand at around an annual rate of 16.3 million units.
The statistic marks an improvement on last year's performance when the Iraq war, economic uncertainty and the SARS virus prompted a marked decline in the industry.
Indeed, Mr Ballew argued that there were no clear signs of a change in mood among American consumers despite misgivings from some analysts.
'We assess that consumers are reading things correctly,' Mr Ballew said. 'The economy is improving, there's still some uncertainty over jobs, but directionally things are improving. And overall consumer sentiment is fairly good.'
GM says it expects industry sales to reach an annual rate nearer 17 million by the end of the year, with the economic improvement helping to drive up sales.
Related articles
- Moving towards cleaner exhaust systems
- Automotive Roundup May 2012
- PLATINUM MARKET SWUNG BACK INTO SURPLUS LAST YEAR, MARKET FORECAST TO REMAIN IN OVERSUPPLY IN 2012
- Johnson Matthey announces expansion of Macedonia autocatalyst plant
- Johnson Matthey unveils new Modulex catalytic convertors and silencers

© Adfero Ltd
Bookmark Using:
Send by email Share on Facebook Tweet this LinkedIn Digg it Bookmark with Delicious Subscribe to Feed Print this page