Industry Report Card: Sinking Sales Are Dragging Down Global Automakers? Ratings Apr 09

Standard & Poors, April 2009

Abstract
A sudden slowdown in world automotive demand in the latter months of 2008 and early 2009 has in our opinion already damaged the credit quality of all automakers, and, in Standard & Poor's Ratings Services' view, the outlook for 2009 appears bleak. Global auto sales plunged 20% in the fourth quarter of 2008, and we forecast they will continue to fall significantly in 2009. Even in the emerging BRIC nations of Brazil, Russia, India, and China, once considered by some as beacons of hope for growth in the industry, demand is beginning to falter as credit for auto loans has tightened and consumer confidence has fallen in the global downturn. In our opinion, the effect on credit quality has been...

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

- Ford Motor Co.
- Motors Liquidation Co. (fka General Motors Corp.)
- PACCAR Inc.
- AB Volvo
- Renault S.A.
- Nissan Motor Co. Ltd.
- Daimler AG
- Navistar International Corp.
- Honda Motor Co. Ltd.
- Toyota Motor Corp.
- Fiat SpA
- Peugeot S.A.
- Volkswagen AG
- BMW AG
- Tata Motors Ltd.
- Hyundai Motor Co.
- Mitsubishi Motors Corp.
- Kia Motors Corp.
- Scania (publ.) AB
- MAN SE

Customers who bought this item also bought

• International Military and Civilian Unmanned Aerial Vehicle Survey
• An Executive Analysis of the Defense Budget and Procurement in BRIC Countries
• Analysis of the Global Space Launch Market: A Gradual Shift Toward Commercialization
• Defense Spending - BRIC (Brazil, Russia, India, China) Industry Guide
• Aerospace and Defense Industry - Global Strategic Business Report
• Aerospace and Defense Industry - Global Outlook
• Homeland Security and Emergency Management Market, 2013–2018
• Global Defense Survey 2013 - Economic Outlook in BRIC
• International Armoured and Mine-Protected Vehicle Market
• The Global Naval Vessels MRO Market 2012-2022 - Country Analysis: Market Profile