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Industry Report Card: North American And European Auto Suppliers Are Facing A Difficult Second-Half 2008 Jul 08
Standard & Poors, July 2008
Abstract
North American auto suppliers are almost half-way through a tough 2008, but the real pain has just begun. Standard & Poor's Ratings Services expects U.S. light-vehicle sales to be about 14.4 million units this year, down dramatically from 16.1 million units in 2007. We expect sales to remain sluggish through the end of the year, leaving those who perennially expect a second-half rebound disappointed once again. But economic weakness and lower sales are only part of the problem. The further negative development in just the last three months is that lower demand for profitable pickups and SUVs, and stable to higher demand for less-profitable smaller vehicles has been rapidly increasing. The SUV and full-size pickup segments fell 39.8% and 38.2%,...
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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