All eyes were on the numbers this week, and not just US sales numbers. Auto sales there were much as expected with a tail-off towards the end of June (nixing hitting the magic 10m annualised sales rate) as some potential buyers apparently slowed their decisions to await final details of the ‘cash for clunkers’ scheme.
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Though the Koreans are making market share gains through the gloom, some commentators seem to think the big second half recovery everyone talks about may not be so big after all. Unemployment numbers out last night weren’t so good; 467,000 US jobs down the hole in June, and around 9.5% of the country recorded as out of work; that’s about 15m people who won’t be thinking about taking on new vehicle payments anytime soon.
The crunch has now claimed another parts supplier this year as Lear lined up its ducks as best it could and then filed under Chapter 11, joining around 14 other parts majors similarly affected so far in 2009.
Speaking of bankruptcy, GM’s been in court some of the week, offering the judge a stark choice: approve our restructure plan or The General is no more.
Fresh out of bankruptcy, Chrysler has reduced cash burn, according to a certain Signor Marchionne, who gave a few hints of where the autobiz’s latest alliance is heading.
Meanwhile, stories and rumours continue to surround the future of GM Europe, Opel and Vauxhall. Alternative bids are apparently being eyed along with Magna and the Russians and, just today, we heard the Chinese had put pen to paper, too. A spot of commitment from the British government, at last, won’t hurt, either.
While Toyota denied a report it would one day share some architecture with Mercedes, it did confirm an interesting deal we heard whispers of while in Japan early last month: the name’s Cygnet, Aston Martin Cygnet, based on the iQ. Let’s see 007 drive that in a movie.
Some factory rearrangements were also announced this week: Ford Europe said it would single-source some next generation models and GM announced it would pull out of the long-standing California assembly JV with Toyota, NUMMI. Leaving us, and very possibly Toyota (not exactly short of a spare plant or capacity in the US right now) wondering what they’ll do with it. Did someone say Prius?
Finally, let me mention our all-new auto jobs service we’ve been plugging shamelessly here on j-a all week. For now, or the future, it’s well worth a look. And here.
Have a nice weekend and, you in the States, enjoy the Fourth of July celebrations.
Graeme Roberts
Deputy/News Editor
just-auto.com
