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February 2009 Auto Sales

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Old 03-01-09, 07:48 AM
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Unhappy February 2009 Auto Sales


SANTA MONICA, California — New-vehicle sales for February look to be up 4.6 percent compared with January, according to the forecast released this week by Edmunds.com. That's down a sobering 41.4 percent from February 2008.

Jesse Toprak, Edmunds.com's executive director of industry analysis, noted that "volatility in the marketplace" has been devastating to consumer confidence and is "hampering any economic recovery." Toprak said the seasonally adjusted annual rate (SAAR) for new-vehicle sales stabilized over the past four months but is expected to have declined in February to 9.3 million, from 9.6 million in January.

New-vehicle sales for January are anticipated to be 685,000 units. The sales totals are expected to include a 53.1 percent drop in sales for Chrysler, 47.5 percent for Ford, 46.2 percent for General Motors. The Big Three saw their combined market share at 44.2 percent in February, says Edmunds.com, which is up from 43 percent last month but some eight percent down from the 52.2 percent of February 2008.

Major declines were not reserved for the U.S.-based automakers: Sales drops in February are predicted at 32.1 percent for Honda, 32.9 percent for Nissan and 36.3 percent for Toyota. All figures are adjusted for the fact that February 2009 had one less selling day than February 2008.

Inside Line says: Spring should hold more answers as to which direction consumer confidence, and resulting auto sales, will be headed this year. — Laura Sky Brown, Correspondent
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Old 03-01-09, 08:41 AM
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I already posted some unique places car companies were storing unsold cars but Toyota in Swedan has accumulated so many cars that it no longer has room in its 12,500 car lot. The situation is so bad that Toyota has effectively run out of land to park cars on. The overflowing lots have forced Toyota to rent a ship to store nearly 2,500 unsold cars.

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Old 03-02-09, 04:43 AM
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Originally Posted by GS69

I already posted some unique places car companies were storing unsold cars but Toyota in Swedan has accumulated so many cars that it no longer has room in its 12,500 car lot. The situation is so bad that Toyota has effectively run out of land to park cars on. The overflowing lots have forced Toyota to rent a ship to store nearly 2,500 unsold cars.

Makes you wonder why they don't just slow or suspend production...
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Old 03-02-09, 07:03 AM
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TOKYO – Japanese auto sales plunged 32.4 percent in February, the biggest monthly drop since 1974 on sinking demand as the global economic downturn deepens, an industry group said Monday.

Japanese consumers bought 218,212 vehicles for the month, the Japan Automobile Dealers Association said in a statement. That's the seventh consecutive month of year-on-year declines.

"Consumers continue to shy away from buying cars in the face of an economic slump. Auto demand remains depressed, and it is very difficult to predict an upturn in the market right now," said Kentaro Nakata, a spokesman for the industry group.

The dismal domestic sales figure, which follows a 27.9 percent drop in January, is the latest bad news for Toyota, Honda, Nissan and Japan's other automakers, which have been battered by slumping sales around the world, particularly in the vital U.S. car market.

Japan's auto market has contracted steadily since peaking in 1990 partly because young people generally have less enthusiasm for owning a car. Parking and gasoline can be expensive and many opt to use Japan's efficient train system. Cars also seem to be less of a status symbol than they were for their parents.

In 2008, Japanese auto sales fell to their lowest in 34 years at 3.21 million vehicles, down about 6 percent from a year earlier, according to the association. In 1990, annual sales peaked at more than double that figure, reaching 7.78 million vehicles.

That decline in their home market is creating headaches for Japan's automakers, which have launched various marketing campaigns to appeal to younger buyers. Toyota, for example, has hosted test-drive events, taken part in fashion shows and even developed its own suburban shopping mall that houses a dealership.

Hit by plunging sales around the world, Toyota Motor Corp., Japan's biggest automaker, and Nissan Motor Co., the country's third-biggest, are both forecasting annual net losses for the fiscal year throught March.

Nissan has said it is slashing 20,000 jobs globally by next March, while Toyota and Honda Motor Co. have also announced job cuts. All three are lowering production in response to the drop-off in global sales.
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Old 03-02-09, 09:51 AM
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Originally Posted by LexBob2
Makes you wonder why they don't just slow or suspend production...

Toyota doesn't just need to slow production, they have to can a number of models.

1. Solara
2. FJ Cruiser
3. Sequoia or Land Cruiser (pick one)
4. SC430
5. GS460
6. Venza

All of these vehicles need to be trimmed from the lineup.
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Old 03-02-09, 12:57 PM
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This is from a thread we have going in the Debate Forum but if you are really into doom and gloom, here you go. As for me, I am really waiting for the Feb numbers. As usual, thanks in advance to those of you who get them for us.

US vehicles sales to keep on falling: CIBC World Markets report

Monday March 2, 10:01 am ET

Detroit makes too many cars - half the nation's plants likely to close


NEW YORK, March 2 /PRNewswire-FirstCall/ - CIBC (CM: TSX; NYSE) - US auto sales, which are already at a 34-year low, will likely drop another 30-40 percent and may never recover to previous levels, finds a new report from CIBC World Markets.

The report projects that American consumers will only buy about 8-9 million vehicles a year over the next five years, roughly half of what we've seen in the last half-decade. As a result, it also projects roughly half of the US's 51 light vehicle plants will be permanently closed in the coming years. This will see the loss of another 200,000 jobs in the sector, on top of the 560,000 jobs already lost this decade.

"Detroit's biggest problem isn't that it's producing the wrong type of vehicles but rather, that it's producing too many vehicles-far too many," says Jeff Rubin, chief economist at CIBC World Markets. "Just as two million housing starts proved to be a bubble, so was the average 16 million unit auto sales of the last five years. That was a product of a world of cheap oil and cheap credit, neither of which are likely to figure in the future.

"Easy credit is already gone. The credit bubble wasn't just about sub-prime mortgages. It was just as much about car sales. Some two-thirds of vehicle sales in America over the last decade were debt financed. The leasing market has all but dried up and the securitization market for car loans isn't far behind. If you buy a car these days, try paying cash, which of course isn't superabundant, particularly for the over three-and-a-half million Americans who have already lost their jobs."

The report finds that there will be 25 million fewer cars on the road in the US in five years. With the vast majority of sales purchased on credit, buying a new vehicle simply won't be an option for many Americans as they struggle to service record household debt levels and find financing increasingly difficult to access. This alone will take 15 million Americans to the exit lanes in the next half-decade.

But Mr. Rubin believes Detroit's problems are a lot bigger than the current recession.

"Recessions, no matter how deep, are finite affairs that rarely last more than four to six quarters. It's the recovery that poses even bigger problems. The only reason gasoline is cheap, is because no one can afford to drive. When the recession is finally over, and Americans start filling up their SUVs, pump prices will go right back up to the $4 per gallon price they were last Memorial Day."

He expects that rising energy prices will force more Americans to adopt European driving habits. Europeans, who pay much higher (tax-boosted) gasoline prices, own fewer cars, drive less and take more public transit. The report does not forecast that all Americans will be able to give up their cars, but by applying European ownership rates to the 57 million US households that currently own a vehicle and have reasonable access to public transit, it projects that high gasoline prices will force an additional 10 million Americans off the road in the next five years.

This trend has already begun as not only are Americans staying away from showrooms, they are also staying off the freeways. Americans drove over 100 billion fewer miles in 2008 while transit ridership rose five percent over the first three quarters of the year.

"Between consumer deleveraging, further job losses and ultimately soaring gasoline prices, tomorrow's auto vehicle market in the US is likely to shrink to something half its former size," says Mr. Rubin. "A market of eight to nine million in annual vehicle sales is a much smaller market than Detroit is presently built for, particularly when imports continue to account for a growing share of new auto sales every year."

Stripping out imports, including North American cars made in Mexico and Canada, US domestic production will likely shrink to between six and seven million units a year. Compared to the production peak of nearly 13 million units back in 1999, it implies as dramatic a drop in production as the industry experienced around the second OPEC oil shock.

"All told, just like US housing sales and starts have fallen to levels with no modern precedent, the drop in US vehicle sales and production should be just as dramatic," adds Mr. Rubin. "Except in this case, long-term changes in the way Americans drive will mean that the good times for the auto industry are never coming back."

The complete CIBC World Markets report is available at:

http://research.cibcwm.com/economic_...oad/sfeb09.pdf.

CIBC World Markets is the corporate and investment banking arm of CIBC. To deliver on its mandate as a premier client-focused and Canadian-based investment bank, World Markets provides a wide range of credit, capital markets, investment banking, merchant banking and research products and services to government, institutional, corporate and retail clients in Canada and in key markets around the world.


http://biz.yahoo.com/prnews/090302/to245.html?.v=76

As I posted in the Debate Forum, I am not sure I buy the conclusions yet but I can't really fault the assumptions.
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Old 03-02-09, 01:05 PM
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Originally Posted by pagemaster
Toyota doesn't just need to slow production, they have to can a number of models.

1. Solara
2. FJ Cruiser
3. Sequoia or Land Cruiser (pick one)
4. SC430
5. GS460
6. Venza

All of these vehicles need to be trimmed from the lineup.
solara yes crusiser just buy the lx. the sc430 is for status as a luxury line. gs460 slow production engine swaps are easy. and fj is for a demographic venza is for a smaller more economic suv instead can the highlander and just sell rx.
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Old 03-02-09, 08:14 PM
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Originally Posted by pagemaster
Toyota doesn't just need to slow production, they have to can a number of models.

1. Solara
2. FJ Cruiser
3. Sequoia or Land Cruiser (pick one)
4. SC430
5. GS460
6. Venza

All of these vehicles need to be trimmed from the lineup.
Are you crazy? Get rid of Venza??? Why?

It just came out last month and is one of the most distinct and interesting new cars available. It should prove very popular.

And why would you kill SC and GS? The SC just needs a redesign but the model definitely shouldn't be killed.

I'm glad you're not a Toyota product planner!

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Old 03-02-09, 08:15 PM
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Originally Posted by pagemaster
Toyota doesn't just need to slow production, they have to can a number of models.

1. Solara
2. FJ Cruiser
3. Sequoia or Land Cruiser (pick one)
4. SC430
5. GS460
6. Venza

All of these vehicles need to be trimmed from the lineup.
No. The Venza is too good, and too unique, for Toyota to can it. It is the only vehicle in the Toyota line-up that competes with Subaru's extremely successful Legacy/Outback models, which have little or no other competition in their price range. The smaller Vibe/Matrix AWD competes with the Impreza wagon.

I agree, however, that keeping the Solara would be questionable, but again, it is Toyota's only fairly large coupe; the Scion tC being substantially smaller.

The SC430 doesn't necessarily need to be canned; IMO, it just needs far better exterior styling, a fixed roof to lower the price, and an SC350 version to lower the price even more.

But I do agree with you that the FJ Cruiser could probably be canned...it is nothing but a 4Runner with some retro styling and trick-rear doors.
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Old 03-02-09, 08:19 PM
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The situation is so bad that Toyota has effectively run out of land to park cars on. The overflowing lots have forced Toyota to rent a ship to store nearly 2,500 unsold cars.
I guess this will mean another "shipping" charge.
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Old 03-02-09, 10:07 PM
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As expected Feb sales will be grim. I'm confident that Toyota/Lexus is discussing more than just what mediocre models need to be cut.
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Old 03-03-09, 08:19 AM
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Default Volkswagen Reports February 2009 Sales

HERNDON, Va.— Volkswagen of America, Inc. today announced February 2009 sales of 13,660 units, a 17.5 percent decrease over February 2008 sale of 16,556 units.

Volkswagen’s stylish new CC, which was designed to blend sports car dynamics and dimensions with sedan comfort, posted its best sales month ever with more than 1,800 units sold.

“The economy continues to be difficult for the Automotive Industry” said Mark Barnes, Chief Operating Officer, Volkswagen of America, Inc. “Despite the extremely difficult on-going economic conditions; the Volkswagen Brand has been growing market share in the U.S. Our stylish new CC, one of our five all-new models, is helping us gain share with strong sales achieving its best sales month ever in February.” added Barnes.

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Old 03-03-09, 08:44 AM
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Originally Posted by Gojirra99
HERNDON, Va.— Volkswagen of America, Inc. today announced February 2009 sales of 13,660 units, a 17.5 percent decrease over February 2008 sale of 16,556 units.

Volkswagen’s stylish new CC, which was designed to blend sports car dynamics and dimensions with sedan comfort, posted its best sales month ever with more than 1,800 units sold.

“The economy continues to be difficult for the Automotive Industry” said Mark Barnes, Chief Operating Officer, Volkswagen of America, Inc. “Despite the extremely difficult on-going economic conditions; the Volkswagen Brand has been growing market share in the U.S. Our stylish new CC, one of our five all-new models, is helping us gain share with strong sales achieving its best sales month ever in February.” added Barnes.

ouch!!!!!!!!!
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Old 03-03-09, 09:17 AM
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At least the VW CC had a nice improvement in sales for February.
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Old 03-03-09, 09:38 AM
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Default Ford

.......................

Ford Reports February Sales


- Ford, Lincoln and Mercury February sales totaled 96,044, down 48
percent compared with a year ago.

- Ford's Czubay: "We're focused on building a foundation for future
growth."

- Ford continues to align production and inventories with demand.

- February inventories totaled 405,000 vehicles.

- Ford announces second quarter North American production plan.


DEARBORN, Mich., March 3 /PRNewswire-FirstCall/ Coming off a strong February performance last year, Ford, Lincoln and Mercury February U.S. sales totaled 96,044, down 48 percent compared with a year ago.

"The economic and competitive environment remains challenging," said Ken Czubay, Ford vice president, Sales and Marketing. "Ironically, these times provide the best opportunity to distance Ford from the competition. We're determined to stay on course and stay focused - building a foundation for future growth with distinctively styled products that offer consumers best-in-class quality, fuel economy, safety and value."

Ford's next generation mid-size cars - the 2010 Ford Fusion and Mercury Milan - will arrive in dealer showrooms this spring. Recent independent studies rate Fusion and Milan as having the best predicted reliability among all mid-size sedans. The new Fusion Hybrid delivers 41 mpg in the city and 36 mpg on the highway, topping the Toyota Camry Hybrid by 8 mpg in the city and 2 mpg on the highway. The new four-cylinder Ford Fusion S achieves 34 mpg on the highway and 23 mpg in the city, beating both the gasoline-powered Camry and Honda Accord.

Tonight, Ford will introduce the Fusion to a national TV audience during "American Idol."

U.S. Inventories

At the end of February, Ford, Lincoln and Mercury inventories totaled 405,000 units. Inventories are 32 percent lower than a year ago - in line with the sales decline (26 percent) during this period.

North American Production

In the second quarter 2009, the company plans to produce 425,000 vehicles (135,000 cars and 290,000 trucks). In the second quarter 2008, the company produced 685,000 vehicles (237,000 cars and 448,000 trucks).

"A key element of our strategy to build our reputation and improve resale values is to align our production with consumer demand," said Czubay. "Our disciplined approach to the market in these challenging times helps us to minimize costly incentives which erode brand value."

Note: The sales data included in this release and the accompanying tables are based largely on data reported by dealers representing their sales to retail and fleet customers.

About Ford Motor Company

Ford Motor Company (NYSE: F), a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles across six continents. With about 213,000 employees and about 90 plants worldwide, the company's wholly owned brands include Ford, Lincoln, Mercury and Volvo. The company provides financial services through Ford Motor Credit Company. For more information regarding Ford's products, please visit http://www.ford.com
Code:
           FORD MOTOR COMPANY FEBRUARY 2009 U.S. SALES
                 -------------------------------------------

                                 February               Year-To-Date
                                 --------        %      ------------      &
                               2009    2008    Change   2009     2008   Change
                               ----    ----    ------   ----     ----   ------
    Sales By Brand
      Ford                    84,422  164,915  -48.8  163,744  295,989  -44.7
      Lincoln                  5,633    9,573  -41.2   11,724   17,558  -33.2
      Mercury                  5,989   10,806  -44.6   11,172   20,102  -44.4
                               -----   ------          ------   ------
        Total Ford, Lincoln
         and Mercury          96,044  185,294  -48.2  186,640  333,649  -44.1
      Volvo                    3,356    7,505  -55.3    6,266   15,541  -59.7
                               -----    -----           -----   ------
         Total Ford Motor
          Company             99,400  192,799  -48.4  192,906  349,190  -44.8

    Ford, Lincoln and Mercury
     Sales By Type
      Cars                    34,678   58,585  -40.8   63,385  102,844  -38.4
      Crossover Utility
       Vehicles               21,993   33,846  -35.0   42,140   63,526  -33.7
      Sport Utility Vehicles   5,439   19,033  -71.4   12,722   34,431  -63.1
      Trucks and Vans         33,934   73,830  -54.0   68,393  132,848  -48.5
                              ------   ------          ------  -------
        Total Trucks          61,366  126,709  -51.6  123,255  230,805  -46.6
                              ------  -------         -------  -------
          Total Vehicles      96,044  185,294  -48.2  186,640  333,649  -44.1



                     FORD BRAND FEBRUARY 2009 U.S. SALES
                     -----------------------------------

                                 February               Year-To-Date
                                 --------        %      ------------      &
                               2009     2008   Change   2009     2008   Change
                               ----     ----   ------   ----     ----   ------

    Crown Victoria             3,272    3,894  -16.0    4,918    8,325  -40.9
    Taurus                     3,290    4,789  -31.3    4,995    8,969  -44.3
    Fusion                     7,603   14,980  -49.2   15,755   24,163  -34.8
    Focus                      9,904   16,302  -39.2   17,673   27,902  -36.7
    Mustang                    2,990    7,752  -61.4    5,934   14,297  -58.5
                               -----    -----           -----   ------
      Ford Cars               27,059   47,717  -43.3   49,275   83,656  -41.1

    Flex                       2,352        0     NA    4,811        0     NA
    Edge                       5,214   11,638  -55.2   10,187   22,526  -54.8
    Escape                    10,090   14,192  -28.9   18,450   25,383  -27.3
    Taurus X                   1,160    2,154  -46.1    2,039    4,388  -53.5
                               -----    -----           -----    -----
      Ford Crossover
       Utility Vehicles       18,816   27,984  -32.8   35,487   52,297  -32.1

    Expedition                 1,564    6,296  -75.2    3,941   11,259  -65.0
    Explorer                   3,073    9,452  -67.5    6,760   16,669  -59.4
                               -----    -----           -----   ------
      Ford Sport Utility
       Vehicles                4,637   15,748  -70.6   10,701   27,928  -61.7

    F-Series                  23,614   52,548  -55.1   48,851   93,673  -47.8
    Ranger                     3,597    7,431  -51.6    6,410   12,977  -50.6
    Econoline/Club Wagon       6,349   12,866  -50.7   12,205   24,199  -49.6
    Low Cab Forward               10       70  -85.7       29      149  -80.5
    Heavy Trucks                 340      551  -38.3      786    1,110  -29.2
                                 ---      ---             ---    -----
      Ford Trucks and Vans    33,910   73,466  -53.8   68,281  132,108  -48.3
                              ------   ------          ------  -------

      Ford Brand              84,422  164,915  -48.8  163,744  295,989  -44.7



                    LINCOLN BRAND FEBRUARY 2009 U.S. SALES
                    --------------------------------------

                                 February               Year-To-Date
                                 --------        %      ------------      &
                               2009     2008   Change   2009     2008   Change
                               ----     ----   ------   ----     ----   ------

    MKS                        1,346        0     NA    2,881        0     NA
    MKZ                        1,145    3,531  -67.6    2,706    6,243  -56.7
    Town Car                   1,084    1,306  -17.0    1,594    1,512    5.4
    MKX                        1,669    2,819  -40.8    3,404    5,845  -41.8
    Navigator                    365    1,553  -76.5    1,027    3,218  -68.1
    Mark LT                       24      364  -93.4      112      740  -84.9
                                  --      ---             ---      ---

      Lincoln Brand            5,633    9,573  -41.2   11,724   17,558  -33.2


                    MERCURY BRAND FEBRUARY 2009 U.S. SALES
                    --------------------------------------

                                 February               Year-To-Date
                                 --------        %      ------------      &
                               2009     2008   Change   2009     2008   Change
                               ----     ----   ------   ----     ----   ------

    Grand Marquis              1,433    2,549  -43.8    2,158    4,512  -52.2
    Sable                      1,271      938   35.5    1,753    1,924   -8.9
    Milan                      1,340    2,544  -47.3    3,018    4,997  -39.6
    Mariner                    1,508    3,043  -50.4    3,249    5,384  -39.7
    Mountaineer                  437    1,732  -74.8      994    3,285  -69.7
                                 ---    -----             ---    -----

      Mercury Brand            5,989   10,806  -44.6   11,172   20,102  -44.4


                     VOLVO BRAND FEBRUARY 2009 U.S. SALES
                     ------------------------------------

                                 February               Year-To-Date
                                 --------        %      ------------      &
                               2009     2008   Change   2009     2008   Change
                               ----     ----   ------   ----     ----   ------

    S40                        491      930   -47.2     891     2,449   -63.6
    V50                        128      157   -18.5     264       320   -17.5
    S60                        273    1,310   -79.2     548     3,023   -81.9
    S80                        671    1,270   -47.2   1,144     2,135   -46.4
    V70                         71      214   -66.8     162       381   -57.5
    XC60                       235        0      NA     235         0      NA
    XC70                       369      933   -60.5     839     1,898   -55.8
    XC90                       665    1,887   -64.8   1,238     3,805   -67.5
    C70                        253      471   -46.3     525       846   -37.9
    C30                        200      333   -39.9     420       684   -38.6
                               ---      ---             ---       ---

      Volvo Brand            3,356    7,505   -55.3   6,266    15,541   -59.7

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