Customer Logins
Obtain the data you need to make the most informed decisions by accessing our extensive portfolio of information, analytics, and expertise. Sign in to the product or service center of your choice.
Customer LoginsMid-year pulse on the automotive industry
Polk just released the June registrations, so this is a good time to take a look at how the industry is doing for the first half of the year compared to the similar period last year.
Top level, it is good news for the industry. Total registrations are up 12.6% and retail registrations are up 17.3% - it's nice to see stronger growth in retail registrations. That means real people are buying more cars. However, June was before the now infamous debt debate and the growing malaise about the economy. The retail number is the one to pay particular attention to as a gauge of consumer sentiment and the one to watch as we move toward the end of the year.
Taking a look at the change in volume by make, there are several things to take note of. Ford and Chevrolet are both posting solid gains in terms of volume increases and percent improvement over last year. The same can be said for all of the domestic makes with a particular note about Chrysler, which is actually down 16% in total registrations but its retail registrations are up 41%. This is a healthy sign for Chrysler as it shifts away from its dependence on fleet sales and is actually selling more cars to retail buyers - a sign that its new offerings are catching on with the public. Both Jeep and Dodge are also showing greater increases in retail registrations than total registrations. That's good news for the Chrysler group.
The Korean makes are posting large gains in both total and retail registrations. Kia is up almost 70% in retail and 43% in total. Hyundai saw an increase of close to 40% in retail and 24% total.
The Japanese brands have a mixed picture. Toyota and Lexus saw decreases in both total and retail registrations as they continue to recover from the impact on their Japanese manufacturing plants. Honda has managed to show modest improvements in both retail and total while Nissan had healthy gains in both. Mitsubishi had large percentage gains as it works at coming back from a critical condition.
The other brand I will call out is Saab - it had the most dramatic growth of 128% total and 94% retail as it is struggling to get back on its feet after the GM sell-off. The major European brands are showing solid recovery.
The first half of 2011 looked good, painting a picture of economic growth for the industry. We are all wondering if the economy is going to fall into a double dip recession and how that will impact the automotive industry. Something we will be watching closely.