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May U.S. Auto Sales Slip Below 2010 Levels; SAAR Falls Below Standard & Poor's Full-Year Expectations Jun 11

  • ID: 1835629
  • June 2011
  • Region: United States
  • Standard & Poors
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FEATURED COMPANIES

  • BMW AG
  • Chrysler Group LLC
  • Fiat SpA
  • General Motors Co.
  • Hyundai Motor Co.
  • Mitsubishi Motors Corp.
  • MORE

Abstract
Light-vehicle sales declined 3.9% from sales in May 2010, as the seasonally adjusted annualized rate (SAAR) of sales came in at 11.8 million units (according to Ward's AutoInfoBank)--a significant 10.5% below the SAAR in April 2011 (see chart 1). In Standard & Poor's Ratings Services' opinion, lower production and inventories of vehicles following the March disaster in Japan, in combination with the recent experience of higher gasoline prices, which were up nearly 40% since last May, were the main reasons for the lower sales rate. As we expected, the SAAR for May reflected higher demand for smaller, more fuel-efficient cars. May's SAAR was well below our current expectation of 12.9 million units for the full year. We believe this could...

Companies mentioned in this report are:
- Chrysler Corp.
- Ford Motor Co.
- Renault S.A.
- Nissan Motor Co. Ltd.
- Daimler AG
- 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.
- Chrysler Group LLC
- General Motors Co.

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 READ MORE >

Note: Product cover images may vary from those shown
2 of 3

- Chrysler Corp.
- Ford Motor Co.
- Renault S.A.
- Nissan Motor Co. Ltd.
- Daimler AG
- 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.
- Chrysler Group LLC
- General Motors Co.

Note: Product cover images may vary from those shown
3 of 3
Note: Product cover images may vary from those shown

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