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June Auto Sales Were Terrible

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July 01, 2010 – Comments (11) | RELATED TICKERS: F , TM , HMC

Hi everyone.  I figured that I'd use this blog post as a running thread and update it throughout the day as manufacturers officially release their sales results for June.

As I mentioned a couple of days ago,  (Are the stocks of auto companies pricing in the weak consumer demand that we're experiencing?) everyone in the industry who I have spoken with, from people at the automakers themselves, to dealer groups, on down to the individual dealership level have indicated that June was a terrible month for auto sales.

If I had to make an educated guess at this point, I'd say that sales are going to end up down in the teens on a percentage basis from last month.

Anyhow, I'll post some updates here later.  Please feel free to add your own updates or posts about the auto industry if you're so inclined :).

Deej 

11 Comments – Post Your Own

#1) On July 01, 2010 at 11:13 AM, TMFDeej (99.40) wrote:

Chevrolet-Buick-GMC-Cadillac Sales Increase 36 Percent in June

Notes:

- The fact that full-size pickups are up 27% for the month and 15% for the year is encouraging for the economy given that many of them are purchased for construction and other commercial uses.

- Still the 195,380 sales that GM reported is less than the 223,000 that the company sold in May. 

- I wonder what percentage of GM's sales were fleet.  It may come out in its monthly sales call.  I suspect that it was high...wait there is is 59,571 fleet sales in June.  That's over 30% of GM's total sales for the month.  Ouch.  According to JD Power, 19.1% of sales industry-wide were fleet in May 2010.

- There still are some company-specific positives here.  A number of the General's new models are doing well.  Cadillac sales were solid.  

Deej 

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#2) On July 01, 2010 at 12:14 PM, TMFDeej (99.40) wrote:

Ford Delivers Strong, Balanced Sales In First Half 2010; New Super Duty, Mustang Pace June Sales Growth

170,900 in June versus 192,000 in May.

 

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#3) On July 01, 2010 at 12:16 PM, TMFDeej (99.40) wrote:

Chrysler Group LLC Reports June 2010 U.S. Sales Increased 35 Percent - Momentum Continues with Third Consecutive Month of Year-Over-Year Increases

92,482 in June vs. 104,000 in May.

At least the redesigned Jeep Grand Cherokee is finally here.  It provides much needed new product for a company with virtually none. 

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#4) On July 01, 2010 at 12:59 PM, alstry (35.39) wrote:

What do you think is going to happen to auto sales when millions of city, county and state workers are fired and hundreds of thousands of business go under because fewer and fewer are getting government checks and spending at those businesses?

 

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#5) On July 01, 2010 at 1:10 PM, TMFDeej (99.40) wrote:

Go away alsry.

Deej 

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#6) On July 01, 2010 at 1:15 PM, TMFDeej (99.40) wrote:

Daimler AG Reports a 20 Percent Increase for Mercedes-Benz and smart Vehicles in the U.S. for June 2010

Notes:

- Mercedes-Benz sales: 18,269 in June vs. 19,176 in May.

- Word on the street is MB was hammering on its dealers to punch as many demo units as possible so its real retail sales are likely worse than they look.

- Poor Smart is a dead man walking.  Sales there were down nearly 50% and the real competition in the A- & B-Class segment isn't even here yet.

 

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#7) On July 01, 2010 at 1:37 PM, TMFDeej (99.40) wrote:

Hyundai Motor America Reports June Sales

Notes:

- Another solid month.  51,205 in June vs. 49,000 in May.

- Hyundai is on a roll, shatters all-time sales records for the month of June and the first half of the year and sets a new all-time monthly market share record.

- Company is not as optimistic about 2010 industry-wide sales as most analysts ""We think the industry is on track for about 11.3 million units in 2010, roughly half a million short of earlier analyst projections,"  I completely agree with this statement.

Deej 

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#8) On July 01, 2010 at 1:48 PM, jesusfreakinco (28.93) wrote:

Good stuff Deej.  Thanks for reporting the MoM figures.  They are a good indicator of the trend rather than the YoY figures. 

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#9) On July 01, 2010 at 2:57 PM, TMFDeej (99.40) wrote:

Thanks and you're welcome.  I have been breaking out the MOM figures because after sales fell by 20% in two consecutive Junes ('08 & '09) anything looks like an improvement on a YOY level.

Deej 

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#10) On July 01, 2010 at 3:19 PM, TMFDeej (99.40) wrote:

The Seasonally Adjusted Annual Sales Rate (SAAR) came in at 11.1 million units versus 

11.6 in May

11.2 in April

11.8 in March 

10.4 in February

10.8 in January

Sales have stabilized, but I don't see any evidence of dramatic improvement...sort of like the rest of the economy.

Deej 

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#11) On July 03, 2010 at 11:57 AM, baldheadeddork (31.14) wrote:

About GM's numbers, I think their "core brands" numbers are BS. Chevrolet/Buick/GMC/Cadillac were up 37%, but General Motors was up 12%, and their market share slipped from 20.2% last year to 19.8%. 

 

They're also leading the industry on incentives, and by a pretty big margin. GM's per vehicle incentives in June were 20% higher than Ford, and again this month GM is one of only two companies that have increased their incentives compared to last year. 

 

GM is buying their market share, same as they've done for the last ten years or more. 

 

(June 2010 incentive numbers: http://www.fortmilltimes.com/2010/07/01/1169197/edmundscom-reports-true-cost-of.html)

 

 

 

 

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