Friday, November 9, 2012

Car sales strong despite Superstorm sandy

Paul A. Eisenstein, NBC News

Though the industry clearly took a hit, most car manufacturers escaped largely the devastation of the Superstorm Sandy in much better shape than the eastern part of the State.

October great was actually for some manufacturers Volkswagen its best U.S. sales month in almost 40 years, reporting, while General Motors its best October since 2007 to the industry collapse had. However, others felt the pinch, Nissan one of the few year compared to the previous reporting downturn the the Japanese manufacturer clearly the blame on the natural disaster.

Other factors played through in October, including political uncertainty, which some buyers, to delay a trip to the exhibition space led. Other buyers apparently still promoted by improving the economic news, but have.

"It is absolutely a hurt us,", said Nissan General brand manager Al Castignetti, referring to Superstorm sandy and the manufacturer's modest 3.2 percent decline for October.

Like its competitors Nissan had a strong month for me but saw sales begin to slide, as residents of the East Coast began hunkering down for the duration. Now, the manufacturer must the prospect 65 dealers in New Jersey, to New York and Connecticut alone closed because of storm damage or lack of power. The showrooms of Nissan is usually 40 percent sales in the Northeast, a region that 27 percent of the U.S. total volume of manufacturer contributes to.

But Nissan is by no means alone. Kurt McNeil, sales manager at GM, suggested, "Probably half of our dealers in the State of New Jersey still without power are" like he on Thursday with reporters said.

Actually put down during the storm more acute in November - especially with authorities, the warning makes a large part of the reason a week or two fully restore – assume a positive side for the industry could possibly.

Preliminary estimates are that several hundred thousand vehicles were badly damaged or destroyed, and probably need to be replaced. In some cases, whole car dealerships, as well as a great of the taxi fleet in Northern NJ liquidation under water.

"they need to be replaced.", said Ricky Beggs, Vice President of the black book, tracked a service, the vehicle pricing and availability. He expects to see strong demand going forward for the pickups and vans used by contractor and repair to replace crews - with the storm damaged not only vehicles but "because there is demand for services, to repair the damage caused by the storm so someone, a car would now possibly two."

But he also warns that the demand created by the Superstorm have used car prices, which was already at or near record levels almost year-round swimming, as well push prices for new vehicles could.

While Nissan appears most gone in negative territory due to Sandy, that decision makers were firmly in black, from the modest 0.5 percent profit at Ford Motor Co., the 22 percent increase of Volkswagen, the German manufacturer shortly before an October record reported set nearly decades four ago, when it was still the nation dominant import brand.

Other Japanese manufacturers, particularly Toyota and Honda, saw a bit of a slowdown from the torrid pace of the last few months - Honda by 8.8 percent, Toyota 16 percentage-but more about finally have created pent-up demand, by Japan's own natural disaster, the March 2011 leads to earthquakes and tsunami severe inventory shortages for this country's automakers be satisfied.

Chrysler, was enthusiastic on the other side with his 10 percent jump that officials praised company their 31 month of Jahres-Over annual sales gains marked.

GM McNeil was optimistic enough, out there, that even with the short setback by the storm U.S. sales probably meet or exceed the manufacturer's optimistic forecast, about 14.4 million vehicles for all 2012. Meanwhile, Chrysler, said that he expected that total volume reach 14.7 million in the year. Despite of the storm streaming, preliminary data suggest that by October seasonal sales annual rate, or SAAR, adapt in 14.9 million come may.

And probably cut after the storm, that's total sales for the month of somewhere between 1 percent and 3 percent, or 20,000 to more than 30,000, according to an estimate by LMC automotive forecasting company.

"We the losses of recent days will pick" echoed analyst Joe Phillippi, AutoTrends consulting, speaking by phone from his native New Jersey not expected, makes more than two weeks again.

Other factors appear to have come in the game last month. GM McNeil warned that many fleet buyers "wait from this period of political uncertainty before they return to the market."

He referred to the latest increase in U.S. housing starts, on the other hand call, the "a turning point", which is noticed in the automotive industry. Housing and auto sales are usually closely linked. This time, car have led the national recovery - without the "tailwind" of housing. So if the industry is also on the rise, McNeil came to the conclusion, it's even a better reason why "we are confident (automotive industry) have a strong fourth quarter and will grow next year."

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