online.wsj.com - 4/2/2009
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[toyota and auto sales] Getty Images Toyota executive Bob Carter, above at the auto show in Detroit in January, said the 18% sales improvement in March from February could be an early sign that optimism is starting to return to the auto market.
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Auto Sales: Ray of Sunshine?
Calculated Risk —
... look like vehicle sales increased in March on a seasonally adjusted annual rate (SAAR) basis. Click on graph for larger image in new window. This graph shows the historical vehicle sales from the BEA (blue) and an estimate for March (light vehicle sales of 9.86 million SAAR from AutoData Corp). Note: this graph includes a small number of heavy vehicle sales to compare to the BEA. From the WSJ: Auto Makers See a Ray of Hope The annualized sales pace ... came in at 9.86 million ...
Autos Breakdown... Ugly and Ugly... But at Least the Hummers Dead
EconomPic —
Although the WSJ tried to be cheery in their post Auto Makers See a Ray of Hope (article since pulled?) and quotes a bottom caller: ...
March auto sales
Econbrowser —
... Nonetheless, the Wall Street Journal found some optimism to report:
"I believe we are in a bottoming process for the industry," Bob Carter, a group vice president at Toyota Motor Corp., said in a conference call. Mr. Carter said the company's 18% sales improvement in March compared with February could be "a very early indication that we have floored and some optimism is starting to return to the market."
Michael DiGiovanni, the top sales analyst at General Motors Corp., said he expects a "very, very gradual pickup" in vehicle ...
Auto woes open a new chapter
Econbrowser —
... Some analysts had hoped we'd seen the worst in February. But the April numbers make it pretty clear that optimism was premature.
And so Chrysler filed for Chapter 11 bankruptcy protection on Thursday. Plan A is for the company to continue to sell cars, and get back to producing them shortly. But both become a bigger challenge once you're wearing the scarlet B. From the WSJ:
Across the country dealers Friday were scrambling to line up new banks to provide auto loans for buyers after the company's ailing lending partner, ...
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