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U.S. Auto Sales Decline, Details Point to More Than Reduced Supply of Japanese Cars

Companies / US Auto's Jul 05, 2011 - 02:40 PM GMT

By: Asha_Bangalore

Companies

Sales of autos fell to an annual rate of 11.45 million units in June from 11.79 million units in May. In the second quarter, auto sales dropped at an annual rate of 25.3% after a nearly 25% jump in the first quarter. The bulk of the decline in auto sales was not from a reduction in supply of autos due to the natural disaster in Japan but also a weakness in sales.


As shown in Chart 3, sales of domestic autos fell to an annual rate of 8.8 million units during June from 9.1 million in the prior month, while sales of imported autos edged down to 2.6 million units from 2.7 million units in May. It is widely expected that auto production will rebound in the third quarter as supply chain problems from the earthquake and tsunami in Japan are being sorted out. However, there is uncertainty about the pickup in auto sales if labor market conditions remain soft.


Asha Bangalore — Senior Vice President and Economist

http://www.northerntrust.com

Asha Bangalore is Vice President and Economist at The Northern Trust Company, Chicago. Prior to joining the bank in 1994, she was Consultant to savings and loan institutions and commercial banks at Financial & Economic Strategies Corporation, Chicago.

Copyright © 2011 Asha Bangalore

The opinions expressed herein are those of the author and do not necessarily represent the views of The Northern Trust Company. The Northern Trust Company does not warrant the accuracy or completeness of information contained herein, such information is subject to change and is not intended to influence your investment decisions.


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