Blog: Dave LeggettFunny ol' Friday

Dave Leggett | 2 January 2009

Today is a funny one isn't it? Some people are back at work, some are not. Some have holiday hangovers, some do not. If you are at work, there's maybe a sense of it being a bit quiet ahead of the main return to normality on Monday. It's a short week at least and today is perhaps a gentle way to ease yourself back into the world of work. I'll wish you a Happy New Year anyway.

The December US light vehicle numbers are out on Monday and another rough month is being widely predicted - the overall market number is likely to be 30-40% down on last year.

And as we look ahead to what this year has in store, it's not exactly the brightest of prospects. One silver lining in the general economic gloom: at least oil is cheap and likely to remain so. It looks like we won't have that pump price shock thing to contend with on top of the market downturn this year.

And another 'positive': the year-on-year trend in market numbers will be looking less bad as the comparison starts to be against a lower bench and the trend flattens out (I realise a bottoming out of demand isn't much of a positive, but I'm trying). The auto industry has probably been one of the worst performing sectors - alongside financial services, housing and consumer goods retailing - in terms of being hit hard and early by this economic downturn. The worst may not yet be over, but we know what to expect at least. More of the same until the economy gets a whole lot better. That's still the key.

Any other positives worth noting? Plusses are a wee bit thin on the ground. At least my urgent requirement to heat food on the move has finally been sorted and who can fail to have the cockles of their heart warmed by the tale of a hoarder who left behind a vintage Bugatti? Amazing.

Enjoy your weekend. Monday may be a slightly rude awakening.   

US: December market headed under 10m units SAAR


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