Last night, Autodata reported its first estimates for September auto sales in the US. According to its own as well as those compiled by the Bureau of Economic Analysis (the same government outfit which keeps track of GDP), vehicle sales have been sliding overall ever since April. For a couple months in the middle of Uncle Sam’s helicopter-fed frenzy, the [...]
The biggest problem, among many, with 2017’s globally synchronized growth narrative was that it was always missing China. This was an enormous contradiction because the Chinese were supposed to be at the center of the rebirth. So much of what was being counted on from this “global growth” was figured to come out of the one country. And it was [...]
US Industrial Production dipped in May 2018. It was the first monthly drop since January. Year-over-year, IP was up just 3.5% from May 2017, down from 3.6% in each of prior three months. The reason for the soft spot was that American industry is being pulled in different directions by the two most important sectors: crude oil and autos. In [...]
Industrial Production in the United States rose 3.5% year-over-year in April 2018, down slightly from a revised 3.7% rise in March. Since accelerating to 3.4% growth back in November 2017, US industry has failed to experience much beyond that clear hurricane-related boost. IP for prior months, particularly February and March 2018, were revised significantly lower. The one big bright spot [...]
Auto sales rebounded sharply in September, with most major car manufacturers reporting better numbers. Sales at Ford were up 8.9% last month from September 2016; +11.9% at GM; Toyota +14.9%; Nissan +9.5%; Honda +6.8%. The only negatives were reported by FCA (-9.7%) and Mercedes (-1.7%). The question is whether these numbers are sustainable beyond September and maybe the few months [...]
Auto sales continue along with their “plateau”, being estimated at 17.8 million (SAAR) units sold in September. Ford was once again the big loser, with sales down 8.1% year-over-year; GM down 0.6%; Fiat Chrysler -0.9%; and VW -7.8%. Toyota and Nissan managed gains, +1.5% and +4.9%, respectively. Car sales were down almost 19% while pickups and light truck sales fell [...]
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