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April U.S. Auto Sales Improve Versus April 2009 Sales, But SAAR Drops Below Standard & Poor?s Full-Year Expectations May 10
Standard & Poors, May 2010
Abstract
Sales of light vehicles in the U.S. improved 20% in April 2010 compared to those in the same month a year earlier, but the seasonally adjusted annualized rate (SAAR) of sales declined nearly 5% on a sequential basis from March 2010, which underscores the gradual and tentative pace of economic recovery, in Standard & Poor's Ratings Services' view. The SAAR for April 2010 was 11.19 million units, according to Ward's AutoInfoBank, a 21.6% improvement from the weak 9.20 million rate of last April, when the SAAR was at its lowest level in 30 years (see chart 1). The SAAR for March was 11.75 million, partly a result of higher incentives. We believe another month of year-over-year increases in 2010 were...
Companies mentioned in this report are: Ford Motor Co.,Nissan Motor Co. Ltd.,Honda Motor Co. Ltd.,Toyota Motor Corp.,Volkswagen AG,BMW AG,Hyundai Motor Co.,Kia Motors Corp.
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.
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