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Automobiles

Auto Industry Sees Slight Recovery in December, But Challenging Year Ahead

Strategic Insights

— 1 min read

The U.S. auto industry closed 2009 on a positive note, with sales increasing by about 15% in December compared to the same month in 2008. Ford, Toyota, and Honda reported significant sales gains, while Chrysler posted a modest decline. However, despite the December surge, the industry still suffered a decline of 21.2% in overall sales for the year, making it one of the worst years on record. As companies look to 2010, executives are cautiously optimistic, but acknowledge that a full recovery will depend on job and income gains.

Key Takeaways:

  • U.S. auto sales increased by 15% in December 2009 compared to the same month in 2008, with a total of 1,029,911 cars and light trucks sold.
  • Ford Motor Co. reported a 33.5% increase in sales for December, with 178,063 vehicles sold, excluding its Volvo unit.
  • Toyota Motor Co. sold 187,860 vehicles in December, a 32% increase from the same month in 2008, and surpassed General Motors Co. in "retail" sales for the first time.
  • General Motors Co. still finished the year at No. 1 in overall sales, but its overall sales total for the month fell 5.7% to 207,538 vehicles.
  • Chrysler Group LLC posted a 3.7% decline in sales for December, but its sales total for the entire year was the worst it has seen in 47 years.
  • The seasonally adjusted annualized selling rate for all car makers in December was 11.25 million cars and light trucks, a significant increase from December 2008's rate of 10.34 million.
  • Ford estimated its U.S. market share at about 15% for the year, a full percentage point higher than in 2008.

Statistics:

  • U.S. auto sales: 1,029,911 cars and light trucks sold in December 2009.
  • Ford sales: 178,063 vehicles sold in December, excluding its Volvo unit.
  • Toyota sales: 187,860 vehicles sold in December, a 32% increase from the same month in 2008.
  • General Motors sales: 207,538 vehicles sold in December, a 5.7% decline from the same month in 2008.
  • Seasonally adjusted annualized selling rate: 11.25 million cars and light trucks sold in December 2009.
  • U.S. market share: Ford estimated its share at about 15% for the year.

Sources:

  • Autodata Corp.
  • Ford Motor Co.
  • Toyota Motor Co.
  • General Motors Co.
  • Chrysler Group LLC.

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