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Forecasting & Planning
Sales Performance & Marketing
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Automotive
Associate Director, Industry Analysis and Loyalty Solutions, S&P Global Mobility
August US new car and light truck sales were not merely good - they were extraordinary. Consider the following:
Just two months ago, Polk raised its 2013 US new vehicle registration forecast from 15.3 to 15.5 million units, but now it may have to be raised again. Polk will wait for the September results before making a decision, but if the robust results of August carry over into September, look for another change in the 2013 forecast.
While the August sales results were extraordinary and welcome after the challenges of the past few years, the results were not spread evenly across all the players in the industry. August more or less belonged to the Asians and, in particular, the Japanese. Consider the following:
As the second largest new vehicle market in the world, the US is important for every global OEM. It is particularly important for GM, Ford and Fiat/Chrysler since it is their home market (or partially their home market).
Tom Libby is manager, loyalty practice and industry analysis, IHS Automotive
Posted 10 September 2013