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August, 2010 News & Analysis Below

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              Morgan & Company service subscribers receive additional analysis & information.


 

August 1, 2010  -  U.S. Automotive Sales Analysis
July US auto sales analysis/reports/charts will be distributed
to subscribers the afternoon of August 3rd.

We will then post a summary below. 

  Visit the Sales Analysis Page for subscription to the complete monthly Sales Analysis
  and to view past month summary pages.

August 3, 2010  -  U.S. Automotive Sales Analysis for July & YTD:

Adobe (pdf) Format

Excel (xls) Format


         

August 7, 2010  -  Chrysler Group North American Production Overview:

Chrysler Group July '10 July '09 % Chng 2010 CY 2009 CY % Chng
U.S. Car         6,907         3,353 105.99%        107,724          29,587 264.09%
Canadian Car          6,279         5,135 22.28%        107,610          48,884 120.13%
Mexican Car               -                 -                     -                   -    
Total Car Production       13,186         8,488 55.35%        215,334          78,471 174.41%
             
U.S. Truck       42,112       19,634 114.49%        350,846        172,063 103.91%
Canadian Truck       14,984       11,865 26.29%        180,915          71,741 152.18%
Mexican Truck       16,187       12,000 34.89%        146,371          58,886 148.57%
Total Truck Production       73,283       43,499 68.47%        678,132        302,690 124.04%
             
Total Car & Truck       86,469       51,987 66.33%        893,466        381,161 134.41%

 

August 7, 2010  -  Ford Motor Company North American Production Overview:

Ford Motor  July '10 July '09 % Chng 2010 CY 2009 CY % Chng
U.S. Car       26,271       19,123 37.38%        227,852        137,092 66.20%
Canadian Car          2,579         3,146 -18.02%          56,969          45,550 25.07%
Mexican Car       24,516       22,468 9.12%        202,223        109,276 85.06%
Total Car Production       53,366       44,737 19.29%        487,044        291,918 66.84%
             
U.S. Truck       76,589       82,416 -7.07%        746,648        569,244 31.16%
Canadian Truck       11,721       15,024 -21.98%        133,388          79,653 67.46%
Total Truck Production       88,310       97,440 -9.37%        880,036        648,897 35.62%
             
Total Car & Truck     141,676     142,177 -0.35%     1,367,080        940,815 45.31%

 

August 10, 2010  -  Federal Open Market Committee Statement 
Information received since the Federal Open Market Committee met in June indicates that the pace of recovery in output and employment has slowed in recent months. Household spending is increasing gradually, but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit. Business spending on equipment and software is rising; however, investment in nonresidential structures continues to be weak and employers remain reluctant to add to payrolls. Housing starts remain at a depressed level. Bank lending has continued to contract. Nonetheless, the Committee anticipates a gradual return to higher levels of resource utilization in a context of price stability, although the pace of economic recovery is likely to be more modest in the near term than had been anticipated.

Measures of underlying inflation have trended lower in recent quarters and, with substantial resource slack continuing to restrain cost pressures and longer-term inflation expectations stable, inflation is likely to be subdued for some time.

The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels of the federal funds rate for an extended period.

To help support the economic recovery in a context of price stability, the Committee will keep constant the Federal Reserve's holdings of securities at their current level by reinvesting principal payments from agency debt and agency mortgage-backed securities in longer-term Treasury securities.1 The Committee will continue to roll over the Federal Reserve's holdings of Treasury securities as they mature.

The Committee will continue to monitor the economic outlook and financial developments and will employ its policy tools as necessary to promote economic recovery and price stability.

Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C. Dudley, Vice Chairman; James Bullard; Elizabeth A. Duke; Donald L. Kohn; Sandra Pianalto; Eric S. Rosengren; Daniel K. Tarullo; and Kevin M. Warsh.

Voting against the policy was Thomas M. Hoenig, who judges that the economy is recovering modestly, as projected. Accordingly, he believed that continuing to express the expectation of exceptionally low levels of the federal funds rate for an extended period was no longer warranted and limits the Committee's ability to adjust policy when needed. In addition, given economic and financial conditions, Mr. Hoenig did not believe that keeping constant the size of the Federal Reserve's holdings of longer-term securities at their current level was required to support a return to the Committee's policy objectives.

 

August 13, 2010  -  North American Production Overview for July & YTD

NA Production July, 2010 July, 2009 % Chng
General Motors Corp.                200,582                101,455 97.71%
Ford Motor Company                141,676                142,177 -0.35%
Chrysler Group                  86,469                  51,987 66.33%
Toyota Motor Mfg.                  88,781                  89,918 -1.26%
Honda of America                101,917                  69,939 45.72%
Others *                171,813                128,583 33.62%
Total Light Vehicle                791,238                584,059 35.47%

* current month includes estimates for several manufacturers included in "Others"

NA Production 7 Months '10 7 Months '09 % Chng
General Motors Corp.             1,598,932                862,402 85.40%
Ford Motor Company             1,367,080                940,815 45.31%
Chrysler Group                893,466                381,161 134.41%
Toyota Motor Mfg.                853,479                555,127 53.74%
Honda of America                754,763                526,873 43.25%
Others             1,313,347                790,056 66.23%
Total Light Vehicle             6,781,067             4,056,434 67.17%

 

August 13, 2010  -  North American Vehicle Production Forecast Update
As of April, 2010 we had raised our production forecast for this year to 10.5 million vehicles.
And as of July the total for North America was slightly over 11.0 million vehicles.
The August update will be distributed to subscribers the week of August 23.

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Page Last Modified:  August 30, 2010