også til 250.000 i sidste uge pga manglende komponenter fra japan, det er fra en top på 284.000
Stocks falter after weak economic data
tweet16EmailPrint..Companies:Grade B Butter Index,RTHDow Jones Industrial AverageNASDAQ Composite.
The outside of the New York Stock Exchange is seen in New York May 13, 2011. REUTERS/Shannon Stapleton
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^BKX 48.74 -1.36
^DJI 12,423.95 -145.84
NASDAQ 2,812.61 -22.69
JPM 42.03 -1.21
KKR 17.13 -0.06
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{"s" : "^bkx,^dji,^ixic,jpm,kkr,m,mro,see,usb","k" : "a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00","o" : "","j" : ""} On Wednesday June 1, 2011, 10:58 am
By Chuck Mikolajczak
NEW YORK (Reuters) - Stocks fell on Wednesday as another round of weak economic data cast doubts on the strength of an economic recovery.
The S&P was off more than 1 percent after climbing in the four prior sessions. The gains came even as data showed a decline in growth in the second quarter, a trend supported by Wednesday's private employment and factory activity reports.
U.S. private employers added a scant 38,000 jobs in May, the lowest level since September 2010, according to ADP Employer Services data.
The Institute for Supply Management's index of national factory activity fell to 53.5 in May -- its worst since September 2009 -- from 60.4 the month before.
"There's clearly a debate going on within the market as to how much the slowdown that we're seeing is temporary, related to the situation in Japan and the supply chain disruptions, and how much of it is more fundamental slowing," said Keith Hembre, chief economist at First American Funds in Minneapolis.
"The data flow has been universally negative for the last few weeks ... but it is appropriate to keep in mind that a (reading above 50) is still consistent with moderate growth in manufacturing."
The Dow Jones industrial average (DJI:^DJI - News) dropped 157.57 points, or 1.25 percent, to 12,412.22. The Standard & Poor's 500 Index (^SPX - News) slid 16.44 points, or 1.22 percent, to 1,328.76. The Nasdaq Composite Index (Nasdaq:^IXIC - News) fell 24.17 points, or 0.85 percent, to 2,811.13.
Bank stocks were among the worst performers, with JPMorgan Chase & Co (NYSE:JPM - News) off nearly 3 percent to $42, and US Bancorp (NYSE:USB - News) down 2.7 percent to $24.92. The KBW bank index (Philadelphia:^BKX - News) dropped nearly 3 percent.
Macy's Inc (NYSE:M - News) dipped 1.1 percent to $28.55 after the department store operator posted a 7.4 percent increase in May same-store stores, beating expectations.
Sealed Air Corp (NYSE:SEE - News) lost 4.8 percent to $24.33 after the bubble wrap maker agreed to buy private cleaning products maker Diversey Holdings for $2.9 billion in cash and stock.
Marathon Oil Corp (NYSE:MRO - News) dropped 2.8 percent to $52.71 after the integrated oil company made a deal to acquire oil and gas properties in Texas' Eagle Ford shale field from private equity firm KKR (NYSE:KKR - News) and Hilcorp Resources Holdings LP for $3.5 billion.
(Reporting by Chuck Mikolajczak; additional reporting by Rodrigo Campos; editing by Jeffrey Benkoe)
Stocks falter after weak economic data
tweet16EmailPrint..Companies:Grade B Butter Index,RTHDow Jones Industrial AverageNASDAQ Composite.
The outside of the New York Stock Exchange is seen in New York May 13, 2011. REUTERS/Shannon Stapleton
Related Quotes
Symbol Price Change
^BKX 48.74 -1.36
^DJI 12,423.95 -145.84
NASDAQ 2,812.61 -22.69
JPM 42.03 -1.21
KKR 17.13 -0.06
Follow these stocks
{"s" : "^bkx,^dji,^ixic,jpm,kkr,m,mro,see,usb","k" : "a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00","o" : "","j" : ""} On Wednesday June 1, 2011, 10:58 am
By Chuck Mikolajczak
NEW YORK (Reuters) - Stocks fell on Wednesday as another round of weak economic data cast doubts on the strength of an economic recovery.
The S&P was off more than 1 percent after climbing in the four prior sessions. The gains came even as data showed a decline in growth in the second quarter, a trend supported by Wednesday's private employment and factory activity reports.
U.S. private employers added a scant 38,000 jobs in May, the lowest level since September 2010, according to ADP Employer Services data.
The Institute for Supply Management's index of national factory activity fell to 53.5 in May -- its worst since September 2009 -- from 60.4 the month before.
"There's clearly a debate going on within the market as to how much the slowdown that we're seeing is temporary, related to the situation in Japan and the supply chain disruptions, and how much of it is more fundamental slowing," said Keith Hembre, chief economist at First American Funds in Minneapolis.
"The data flow has been universally negative for the last few weeks ... but it is appropriate to keep in mind that a (reading above 50) is still consistent with moderate growth in manufacturing."
The Dow Jones industrial average (DJI:^DJI - News) dropped 157.57 points, or 1.25 percent, to 12,412.22. The Standard & Poor's 500 Index (^SPX - News) slid 16.44 points, or 1.22 percent, to 1,328.76. The Nasdaq Composite Index (Nasdaq:^IXIC - News) fell 24.17 points, or 0.85 percent, to 2,811.13.
Bank stocks were among the worst performers, with JPMorgan Chase & Co (NYSE:JPM - News) off nearly 3 percent to $42, and US Bancorp (NYSE:USB - News) down 2.7 percent to $24.92. The KBW bank index (Philadelphia:^BKX - News) dropped nearly 3 percent.
Macy's Inc (NYSE:M - News) dipped 1.1 percent to $28.55 after the department store operator posted a 7.4 percent increase in May same-store stores, beating expectations.
Sealed Air Corp (NYSE:SEE - News) lost 4.8 percent to $24.33 after the bubble wrap maker agreed to buy private cleaning products maker Diversey Holdings for $2.9 billion in cash and stock.
Marathon Oil Corp (NYSE:MRO - News) dropped 2.8 percent to $52.71 after the integrated oil company made a deal to acquire oil and gas properties in Texas' Eagle Ford shale field from private equity firm KKR (NYSE:KKR - News) and Hilcorp Resources Holdings LP for $3.5 billion.
(Reporting by Chuck Mikolajczak; additional reporting by Rodrigo Campos; editing by Jeffrey Benkoe)
42916 situationen omkring produktionen af japanske biler ser ud til at blive bedre hurtigere end ventet indtil for kort tid siden
Toyota launches blowout deals as sales dip, stockpiles recover
Photo credit: BLOOMBERG
Mark Rechtin
Automotive News -- June 1, 2011 - 4:45 pm ET
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LOS ANGELES - With Japanese and North American factories returning to near-full production, Toyota Division is launching a swath of 0-percent loan and lease incentives on core models.
Starting today, Toyota is offering 0-percent financing for 60 months on the Camry, and lease rates starting at less than $200 a month.
On the Tundra pickup, the offer is 0-percent financing for 60 months or a rebate of of $2,000 to $2,500 depending on the model.
Low interest rates and special lease rates also are being offered on the Corolla, Sienna, Highlander, Venza and Avalon. All are built in North America.
Although Toyota usually gives its U.S. sales regions latitude to set their own incentives, the latest discounts are a national promotion that may have some regional variations. Toyota also is allowing current lease owners to extend leases.
Toyota brand sales fell 30 percent in May and are now up just 1 percent in a market that is up 14 percent for the first five months of the year.
Bob Carter, Toyota Division general manager, described May as "two different months," because the post-earthquake production outlook grew more favorable as May progressed.
He said Toyota sold 25 percent of its total May volume over the Memorial Day weekend, reflecting enhanced discounts the automaker implemented after a sluggish start.
"Our availability will be much stronger in June than it was in May," Carter said. "Increasing Prius production remains the top company priority, and Camry and Corolla will be back to full production in June."
Randy Pflughaupt, Toyota's group vice president of sales administration, said Toyota has "reached the low point of product flow." He said there is a 30-days supply of the Corolla and a 50-days supply of the Camry. Stockpiles of the Prius hybrid remain tight at a 10-days supply.
Currently, Toyota Division has about 195,000 units in ground stock, down about 50,000 units from the start of May.
Carter did not predict when dealers would return to pre-quake inventory levels because of fluctuating sales rates. While most forecasters had predicted a sales rate of 13 million to 13.2 million, the pace for May was only 11.78 million.
"The market took a little bit of a breather," Carter said. "We may have taken a plateau, but we remain bullish on the industry in the third and fourth quarter."
The Lexus brand continues to struggle. Its inventory levels were already low before the March 11 earthquake, a condition that has worsened.
Mark Templin, general manager of Lexus, said Lexus' inventory hit its lowest level in May in more than six years. Lexus' May sales were off 45 percent because of short supplies. Lexus has about 15,000 units on the ground, far below Templin's desired level of 35,000 units.
Lexus will not launch any incentive plans in June while it waits for its Japan-sourced products to start arriving. But Templin said Lexus will "reward customers for waiting."
Read more: http://www.autonews.com/apps/pbcs.dll/article?AID=/20110601/RETAIL01/110609980/1292#ixzz1O6Ne56uw
Toyota launches blowout deals as sales dip, stockpiles recover
Photo credit: BLOOMBERG
Mark Rechtin
Automotive News -- June 1, 2011 - 4:45 pm ET
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LOS ANGELES - With Japanese and North American factories returning to near-full production, Toyota Division is launching a swath of 0-percent loan and lease incentives on core models.
Starting today, Toyota is offering 0-percent financing for 60 months on the Camry, and lease rates starting at less than $200 a month.
On the Tundra pickup, the offer is 0-percent financing for 60 months or a rebate of of $2,000 to $2,500 depending on the model.
Low interest rates and special lease rates also are being offered on the Corolla, Sienna, Highlander, Venza and Avalon. All are built in North America.
Although Toyota usually gives its U.S. sales regions latitude to set their own incentives, the latest discounts are a national promotion that may have some regional variations. Toyota also is allowing current lease owners to extend leases.
Toyota brand sales fell 30 percent in May and are now up just 1 percent in a market that is up 14 percent for the first five months of the year.
Bob Carter, Toyota Division general manager, described May as "two different months," because the post-earthquake production outlook grew more favorable as May progressed.
He said Toyota sold 25 percent of its total May volume over the Memorial Day weekend, reflecting enhanced discounts the automaker implemented after a sluggish start.
"Our availability will be much stronger in June than it was in May," Carter said. "Increasing Prius production remains the top company priority, and Camry and Corolla will be back to full production in June."
Randy Pflughaupt, Toyota's group vice president of sales administration, said Toyota has "reached the low point of product flow." He said there is a 30-days supply of the Corolla and a 50-days supply of the Camry. Stockpiles of the Prius hybrid remain tight at a 10-days supply.
Currently, Toyota Division has about 195,000 units in ground stock, down about 50,000 units from the start of May.
Carter did not predict when dealers would return to pre-quake inventory levels because of fluctuating sales rates. While most forecasters had predicted a sales rate of 13 million to 13.2 million, the pace for May was only 11.78 million.
"The market took a little bit of a breather," Carter said. "We may have taken a plateau, but we remain bullish on the industry in the third and fourth quarter."
The Lexus brand continues to struggle. Its inventory levels were already low before the March 11 earthquake, a condition that has worsened.
Mark Templin, general manager of Lexus, said Lexus' inventory hit its lowest level in May in more than six years. Lexus' May sales were off 45 percent because of short supplies. Lexus has about 15,000 units on the ground, far below Templin's desired level of 35,000 units.
Lexus will not launch any incentive plans in June while it waits for its Japan-sourced products to start arriving. But Templin said Lexus will "reward customers for waiting."
Read more: http://www.autonews.com/apps/pbcs.dll/article?AID=/20110601/RETAIL01/110609980/1292#ixzz1O6Ne56uw
42919 biler
Ford: Inventory will stay lean but flow to dealers will be steadier
Jamie LaReau
Automotive News -- June 1, 2011 - 5:38 pm ET
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DETROIT -- Ford Motor Co. says its redesigned 2012 Focus compact and 2011 Explorer crossover inventories will remain lean, but the flow to dealers will be more steady.
The Focus and Explorer propped Ford's May sales results. But they were not enough to offset a decline in F-series pickup sales because of high gasoline prices and a struggling housing market.
Ford's total May sales fell 3 percent from the year-ago period. Ford division sales rose 5 percent and Lincoln sales fell 5 percent in May.
Ford said its car sales rose 4 percent last month, but truck deliveries slid 7 percent, with F-series pickup volume off 15 percent.
"The full-sized pickup category has been affected by higher gas prices and this is keeping some pickup drivers on the sidelines," said Ken Czubay, Ford's vice president of U.S. marketing, sales and service. "Commercial truck buyers are still in the market, but the retail market accounted for 9 percent of segment sales compared to 12 percent in May of last year."
Czubay said the slowdown in pickup sales is temporary.
George Pipas, Ford's sales analyst, said he does not expect Ford to use heavy incentives to spur sales.
"We're beginning the month of June with inventories of F-series trucks in the 60-day range," Pipas said. "We're in a very strong position. I wouldn't expect to see much in the way of a crazy summer sell-down at the end of the model year on F-series trucks."
Lean stock
At the end of May, Ford had 103,000 cars and 294,000 trucks in inventory, Pipas said. That's a day supply in the low 50s.
Meanwhile, Ford said it plans to build 630,000 vehicles in North America during the third quarter, up 44,000, or 8 percent, from the same quarter last year. Of that, the mix will be 220,000 cars and 410,000 trucks.
In the second quarter, Ford plans to produce 710,000 vehicles, unchanged from its previous forecast, and up 57,000 units, or 9 percent, from the second quarter last year.
In May, the redesigned Explorer had its highest sales month in four years, selling 13,318 units, a gain of 135 percent. That means dealers sold more than half of the Explorers on their lots, Czubay said.
Many Ford dealers have said they can't get enough of the redesigned Explorer and Focus to meet demand. But Pipas said inventory levels will not change much.
"We'll issue stocks for each of our products tomorrow [Thursday], but it continues to be lean," Pipas said during the company's sales call. "There's a continuous flow now -- we're past the Focus launch, the Fiesta launch and the Explorer launch -- and dealers are getting a continuous flow."
The litmus test
Czubay said Ford's bet on fuel-efficient vehicles paid off in May.
Average U.S. gasoline prices peaked at $3.97 a gallon in May before falling. But the quick run-up in pump prices did not deter Fiesta buyers, many of whom were first-time car owners, Czubay said.
Ford's Fiesta sales were 36,594 through May. It launched the car last June.
"Fiesta consumers are up to three times more likely to buy for style, technology and innovation than the segment average," Czubay said. "And 18 percent of Fiesta buyers are buying for the first time. We're making great strides in bringing in young, new customers into the Ford portfolio."
Ford's total Focus sales rose 32 percent and retail sales rose 9 percent. Czubay says 8.5 percent of Focus retail sales were in California. That compares with 5.7 percent for the previous model's California retail sales share.
California is important, Czubay said, because it leads the nation in small car sales.
Ford's retail share in California reached a level in May that Ford has not seen in six years -- when Ford offered employee pricing for everyone. Czubay did not release Ford's California retail share.
Ford's retail share of the U.S. small car market in May reached 11 percent, up from around 6 percent a year ago. Ford has not seen a level that high since the 2002-03 time frame, he said.
"Clearly this market is a litmus test for Ford's ability to grow its market share across the U.S." Czubay said. "Ford is passing the litmus test."
Fuel economy even played out in the pickup segment. Czubay said for the first time ever, V-6 engines outsold V-8 engines in the F-150.
Said Czubay: "This is one of those Ripley's Believe it or Not events."
Read more: http://www.autonews.com/apps/pbcs.dll/article?AID=/20110601/RETAIL01/110609977/1422#ixzz1O6a96HAW
Ford: Inventory will stay lean but flow to dealers will be steadier
Jamie LaReau
Automotive News -- June 1, 2011 - 5:38 pm ET
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» F&I Tip of the Month: Get Back to the Basics
» Active Delivery: Turning Customers into Clients
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» F&I Tip of the Month: Telling is Not Selling
» What Dealers Are Saying
Follow Automotive News
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DETROIT -- Ford Motor Co. says its redesigned 2012 Focus compact and 2011 Explorer crossover inventories will remain lean, but the flow to dealers will be more steady.
The Focus and Explorer propped Ford's May sales results. But they were not enough to offset a decline in F-series pickup sales because of high gasoline prices and a struggling housing market.
Ford's total May sales fell 3 percent from the year-ago period. Ford division sales rose 5 percent and Lincoln sales fell 5 percent in May.
Ford said its car sales rose 4 percent last month, but truck deliveries slid 7 percent, with F-series pickup volume off 15 percent.
"The full-sized pickup category has been affected by higher gas prices and this is keeping some pickup drivers on the sidelines," said Ken Czubay, Ford's vice president of U.S. marketing, sales and service. "Commercial truck buyers are still in the market, but the retail market accounted for 9 percent of segment sales compared to 12 percent in May of last year."
Czubay said the slowdown in pickup sales is temporary.
George Pipas, Ford's sales analyst, said he does not expect Ford to use heavy incentives to spur sales.
"We're beginning the month of June with inventories of F-series trucks in the 60-day range," Pipas said. "We're in a very strong position. I wouldn't expect to see much in the way of a crazy summer sell-down at the end of the model year on F-series trucks."
Lean stock
At the end of May, Ford had 103,000 cars and 294,000 trucks in inventory, Pipas said. That's a day supply in the low 50s.
Meanwhile, Ford said it plans to build 630,000 vehicles in North America during the third quarter, up 44,000, or 8 percent, from the same quarter last year. Of that, the mix will be 220,000 cars and 410,000 trucks.
In the second quarter, Ford plans to produce 710,000 vehicles, unchanged from its previous forecast, and up 57,000 units, or 9 percent, from the second quarter last year.
In May, the redesigned Explorer had its highest sales month in four years, selling 13,318 units, a gain of 135 percent. That means dealers sold more than half of the Explorers on their lots, Czubay said.
Many Ford dealers have said they can't get enough of the redesigned Explorer and Focus to meet demand. But Pipas said inventory levels will not change much.
"We'll issue stocks for each of our products tomorrow [Thursday], but it continues to be lean," Pipas said during the company's sales call. "There's a continuous flow now -- we're past the Focus launch, the Fiesta launch and the Explorer launch -- and dealers are getting a continuous flow."
The litmus test
Czubay said Ford's bet on fuel-efficient vehicles paid off in May.
Average U.S. gasoline prices peaked at $3.97 a gallon in May before falling. But the quick run-up in pump prices did not deter Fiesta buyers, many of whom were first-time car owners, Czubay said.
Ford's Fiesta sales were 36,594 through May. It launched the car last June.
"Fiesta consumers are up to three times more likely to buy for style, technology and innovation than the segment average," Czubay said. "And 18 percent of Fiesta buyers are buying for the first time. We're making great strides in bringing in young, new customers into the Ford portfolio."
Ford's total Focus sales rose 32 percent and retail sales rose 9 percent. Czubay says 8.5 percent of Focus retail sales were in California. That compares with 5.7 percent for the previous model's California retail sales share.
California is important, Czubay said, because it leads the nation in small car sales.
Ford's retail share in California reached a level in May that Ford has not seen in six years -- when Ford offered employee pricing for everyone. Czubay did not release Ford's California retail share.
Ford's retail share of the U.S. small car market in May reached 11 percent, up from around 6 percent a year ago. Ford has not seen a level that high since the 2002-03 time frame, he said.
"Clearly this market is a litmus test for Ford's ability to grow its market share across the U.S." Czubay said. "Ford is passing the litmus test."
Fuel economy even played out in the pickup segment. Czubay said for the first time ever, V-6 engines outsold V-8 engines in the F-150.
Said Czubay: "This is one of those Ripley's Believe it or Not events."
Read more: http://www.autonews.com/apps/pbcs.dll/article?AID=/20110601/RETAIL01/110609977/1422#ixzz1O6a96HAW
42947 Høyeste bilsalg siden 1986!
Det ble registrert 13 005 nye personbiler i mai, 3.109 (+ 31,4 prosent) flere enn i mai 2010. Vi må tilbake til 1986 for å finne høyere registreringstall i mai måned, opplyser OFV.
I forhold til gjennomsnittet for mai måned de 10 foregående årene, er årets maitall 39,0 prosent høyere (+ 3.647 biler).
Gjennomsnittlig CO2-utslipp for alle førstegangsregistrerte nye personbiler i mai var 134 g/km. Dette er 5,0 prosent lavere enn i mai 2010.
De mest populære merkene:
1. Volkswagen 1.822 biler (14,0 prosent markedsandel
2. Toyota 1.306 biler (10,0)
3. Volvo 1.084 biler (8,3
4. Ford 1.067 biler (8,2)
5. Peugeot 1.018 biler (7,8)
De mest populære bilmodellene:
1. Volkswagen Golf 611 biler (4,7 prosent markedsandel)
2. Volkswagen Passat 581 biler (4,5)
3. Mitsubishi ASX 577 biler (4,4)
4. Volvo V60 401 biler (3,1)
5. Ford Focus 359 biler (2,8)
Du finner fullstendig oversikt i meldingen fra OFV
Det ble registrert 13 005 nye personbiler i mai, 3.109 (+ 31,4 prosent) flere enn i mai 2010. Vi må tilbake til 1986 for å finne høyere registreringstall i mai måned, opplyser OFV.
I forhold til gjennomsnittet for mai måned de 10 foregående årene, er årets maitall 39,0 prosent høyere (+ 3.647 biler).
Gjennomsnittlig CO2-utslipp for alle førstegangsregistrerte nye personbiler i mai var 134 g/km. Dette er 5,0 prosent lavere enn i mai 2010.
De mest populære merkene:
1. Volkswagen 1.822 biler (14,0 prosent markedsandel
2. Toyota 1.306 biler (10,0)
3. Volvo 1.084 biler (8,3
4. Ford 1.067 biler (8,2)
5. Peugeot 1.018 biler (7,8)
De mest populære bilmodellene:
1. Volkswagen Golf 611 biler (4,7 prosent markedsandel)
2. Volkswagen Passat 581 biler (4,5)
3. Mitsubishi ASX 577 biler (4,4)
4. Volvo V60 401 biler (3,1)
5. Ford Focus 359 biler (2,8)
Du finner fullstendig oversikt i meldingen fra OFV
42952 Samlet bilsalg i OECD landene:
http://aktiehaj.dk/bil-salg-oecd
Samt ogsaa breakdown paa individuelle lande:
http://aktiehaj.dk/bil-salg-oecd#subs
Bliver loebende opdateret med tal fra OECD (dog kun kvartalsvis - men vel fint nok til den langsigtede investor)
http://aktiehaj.dk/bil-salg-oecd
Samt ogsaa breakdown paa individuelle lande:
http://aktiehaj.dk/bil-salg-oecd#subs
Bliver loebende opdateret med tal fra OECD (dog kun kvartalsvis - men vel fint nok til den langsigtede investor)
man skal huske at bilsalget i de 3 OECD områder, usa, europa excl de nye medlemmer og japan kun udgør ca 35% af verdens bilsalg
så bilsalget domineres af emerging markets, hvor jeg stadig opfatter mexico, syskorea og andre lande som emerging markets også selvom de bliver medlemmer af OECD
og som skrevet før er det bilsalget i emerging markets, der dominerer udviklingen i det globale bilsalg
så bilsalget domineres af emerging markets, hvor jeg stadig opfatter mexico, syskorea og andre lande som emerging markets også selvom de bliver medlemmer af OECD
og som skrevet før er det bilsalget i emerging markets, der dominerer udviklingen i det globale bilsalg
42962 og jeg mener ikke kvartalsvise data er nok, når der sker hurtige ændringer som under finanskrise, der er det månedlige data så hurtigt som muligt man skal bruge, både salg, produktion og lagerbevægelser¨
men ellers behøver man dem ikke så ofte, men der sker jo altid hurtige ændringer i verdensøkonomien, så derfor er det vigtigt at følge de seneste data om bilsalget så hurtigt de kommer på månedsbasis og netop nu hvor katastroerne i japan har ramt udbuddet af biler pga produktionsstandsning er det vigtigt at følge det meget tæt, nærmest fra uge til uge
men ellers behøver man dem ikke så ofte, men der sker jo altid hurtige ændringer i verdensøkonomien, så derfor er det vigtigt at følge de seneste data om bilsalget så hurtigt de kommer på månedsbasis og netop nu hvor katastroerne i japan har ramt udbuddet af biler pga produktionsstandsning er det vigtigt at følge det meget tæt, nærmest fra uge til uge
42963 bil produktion japan og overseas
Toyota output to return to 90% of pre-quake level
Toyota's auto production in Japan will recover to 90 per cent of pre-disaster levels next month, faster than its earlier projections and highlighting its power to bounce back from the disaster. -- PHOTO: AP
TOKYO - JAPANESE auto giant Toyota said on Wednesday its domestic production would return to about 90 per cent of its pre-quake level in June thanks to a faster-than-expected recovery of parts supplies.
'We are expecting production to reach 90 per cent within this month for Japan,' much higher than the previous goal of 70 per cent for June, Toyota spokesman Paul Nolasco said.
In April, domestic production, excluding Hino and Daihatsu models in the Toyota group, was only 21.6 per cent of levels in the same month last year, according to the company.
Its output recovered to around 70 per cent of estimated pre-quake levels in May as suppliers were able to restore operations faster than expected. There are no precise figures for production abroad, but expectations for June are between 70-100 per cent, Mr Nolasco said.
Production will still be 70 per cent in North America while almost all factories operate in Europe at 100 per cent, he said. The March 11 earthquake and the tsunami hammered production, shattered supply chains and crippled electricity-generating facilities, including a nuclear power plant at the centre of an ongoing atomic emergency.
Amid power and parts shortages, Toyota had announced production disruptions domestically and in the United States, Europe, China and Australia, temporarily slowing output or shutting plants. -- AFP
Toyota output to return to 90% of pre-quake level
Toyota's auto production in Japan will recover to 90 per cent of pre-disaster levels next month, faster than its earlier projections and highlighting its power to bounce back from the disaster. -- PHOTO: AP
TOKYO - JAPANESE auto giant Toyota said on Wednesday its domestic production would return to about 90 per cent of its pre-quake level in June thanks to a faster-than-expected recovery of parts supplies.
'We are expecting production to reach 90 per cent within this month for Japan,' much higher than the previous goal of 70 per cent for June, Toyota spokesman Paul Nolasco said.
In April, domestic production, excluding Hino and Daihatsu models in the Toyota group, was only 21.6 per cent of levels in the same month last year, according to the company.
Its output recovered to around 70 per cent of estimated pre-quake levels in May as suppliers were able to restore operations faster than expected. There are no precise figures for production abroad, but expectations for June are between 70-100 per cent, Mr Nolasco said.
Production will still be 70 per cent in North America while almost all factories operate in Europe at 100 per cent, he said. The March 11 earthquake and the tsunami hammered production, shattered supply chains and crippled electricity-generating facilities, including a nuclear power plant at the centre of an ongoing atomic emergency.
Amid power and parts shortages, Toyota had announced production disruptions domestically and in the United States, Europe, China and Australia, temporarily slowing output or shutting plants. -- AFP

