|
|
 |
|
Viewing report
|
|
|
|
August U.S. Auto Sales Down Slightly From July, Down Sharply From August 2009; SAAR In Line With Our Expectations For 2010 Sep 10
Standard & Poors, Sep 2010
Abstract
Sales of light vehicles in the U.S. in August fell 5% sequentially from July 2010, but fell 21.1% year over year from August 2009. We believe the year-over-year decline, the first in ten months, was caused mostly by the comparison with the government-funded 'cash for clunkers' program that boosted sales in August 2009. The August seasonally adjusted annualized rate (SAAR) of sales, at 11.44 million units (according to Ward's AutoInfoBank) was essentially flat with the 11.53 million units in July 2010. The August 2010 SAAR was consistent with Standard & Poor's Ratings Services' economists' full-year expectations of 11.4 million units. The SAAR for the first eight months of 2010 was below our expectation for the full year, at about 11.21...
Companies mentioned in this report are: Chrysler Corp.,Ford Motor Co.,Nissan Motor Co. Ltd.,Daimler AG,Honda Motor Co. Ltd.,Toyota Motor Corp.,Volkswagen AG,BMW AG,Hyundai Motor Co.,Kia Motors Corp.,Chrysler Group LLC
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.
|
|
|
|
