Analysts were surprised by the soild increase in retail sales and noted that sales in April were also revised to show a respectable gain of 0.4 percent, instead of the original estimate that sales had fallen by 0.2 percent.
Ian Shepherdson, chief U.S. economist at High Frequency Economics, said one possible explanation was that consumers have [...]
Major automakers are expected to post steep declines in U.S. sales for May, as the spike in gasoline prices battered an industry already reeling from weak consumer confidence and tighter credit.
Weak U.S. sales in May would add to growing concerns that the world’s largest market for vehicles is headed for a deeper downturn this year, [...]
Despite sliding 0.5% to 184,467 units, vehicle sales in Canada have posted their second-best month of May and are on track to perhaps their best year ever, says auto analyst Dennis Desrosiers.
“Rarely does Canada go counter-cyclical to the U.S. market for any length of time and it has now been a couple of years,” said [...]
By Blaise Robinson
PARIS, April 2 (Reuters) - European stocks rose in early
trade on Wednesday, adding to the previous session’s hefty gains
as optimism that the worst might be over in the global credit
crisis fuelled an extended rally in banking shares.
But the gains were limited by retreating auto stocks, on [...]
(Adds company items, futures; updates snapshot)
PARIS, April 2 (Reuters) - European equities were expected to rise on
Wednesday, extending the previous day’s sharp rally as investors’ optimism that
the worst of the credit crisis may be over continues to boost equity markets
worldwide.
At 0623 GMT June Stoxx50 futures STXEM8 were up [...]
By David Bailey
DETROIT (Reuters) - Auto sales dropped 12 percent in March in a decline blamed on shaky consumer confidence, high fuel prices and concern that a housing market downturn could spread into a full recession.
All three Detroit-based automakers posted declines on Tuesday. Toyota Motor Co (7203.T: Quote, Profile, Research), No. [...]
By David Bailey
DETROIT (Reuters) - Auto sales dropped 12 percent in March in a decline blamed on shaky consumer confidence, high fuel prices and concern that a housing market downturn could spread into a full recession.
All three Detroit-based automakers posted declines on Tuesday. Toyota Motor Co (7203.T: Quote, Profile, Research), No. [...]
SEOUL, South Korea%26The head of Nissan Motor Co. said even if the United States is not in recession, its auto industry is. “We are very lucid on the situation of the industry that there is a recession in the United States, at least in the car market,” Chief Executive Carlos Ghosn [...]
NEW YORK (Reuters) - Chrysler LLC expects to post a “big” decline in March U.S. sales compared with a year earlier, reflecting the automaker’s decision to pull back from less profitable deals for car rental agencies, Chrysler sales chief Jim Press said on Wednesday.
Press was speaking to reporters at an event [...]
DETROIT (Reuters) - U.S. sales of cars and light tracks are expected to drop sharply in 2008, hitting their lowest level since 1994, influential industry tracking service J.D. Power and Associates said on Tuesday in a revised forecast.
J.D. Power said it now expects U.S. light vehicle sales to drop to 14.95 [...]
