Contractor Pickup
Truck Sales Slump Hold Back Gm
Truck sales crisis hampers plan General Motors Corp. turnaround in North America. Just as the auto giant expands to recover, there was an apparent shift in the market for small fuel efficient cars. In addition, prices of gasoline were up. And for a company that depends very much on the truck market, for example a change in the trend would spell trouble.
GM counting on its new full-size GMC Sierra and Chevrolet Silverado pickups Smash Hits. Unfortunately, the microphones are taking longer to sell compared to their ancestors. They are also leaving the showrooms with only $ 420 less in incentives.
According to Edmunds.com, GM sold 200,505 of the trucks through the first three months of 2007 – a figure GM insider said fell well below internal forecasts. The day after the truck market has come down in persistent hype this week that GM and other auto giants report on April sales. GM is scheduled to release its first quarter results Thursday.
The long-term slowdown in housing and construction markets in the United States, coupled with the price of gasoline increases weighed on sales of pickups nationwide. The pickup segment is a lucrative market where Detroit automakers are strongly dependent. "Things are not collapsing, but external factors have an impact," Jesse Toprak, chief economist for Edmunds.com, said sales of GM pickup. But even title = "Dee Zee"> Dee Zee, taking all the trades in the aftermarket accessories world, is not able erase the doldrums away.
Its leaders have refused to further sales of trucks, saying that the manufacturer does not comment on sales and earnings before the announcements. Industry analysts anticipate GM to post an overall profit in the first quarter. They added that they will be very close to the gains in North America signs of progress.
The manufacturer hopes that the profitability of Silverado and Sierra sales far exceed models 2006. While the new Silverado and Sierra are generally outperforming the competition, they have been hurt by the collapse of the market. GM increased production of the new pickups by eleven percent in the first quarter of the year in hopes of strong demand. But sales are up only 4.8 percent compared to March a year ago, according to Edmunds.com.
In addition, trucks are discounted an average of $ 2453 and are sitting on dealer lots 81 days according to Edmunds data "for the first quarter of 2007. One might note that older models made $ 2,874 in incentives and moved in 55 days during the same period last year.
GM pool of engineers redesigned the pickup to make them larger, more powerful and available with more features. That's why GM and Wall Street expected more. "Usually, you would see a double-digit gain" on new products, Toprak said.
Disorders in the truck market has threatened carmakers. The sector is heavily dependent on contractors using vehicles work. Consequently, demand has dropped with the housing market, while less than build fewer homes of workers.
pickups, which represent 22 per cent of sales for automakers in Detroit, fell by ten per cent in 2006, according to Autodata Corp. Sales of the sector decreased by one percent to 4.6 first three months of 2007 compared to the same period last year.
According to Autodata, the Ford Motor Co. saw its sales fall 14.1 F-Series percent in the first quarter of 2007, after a year when sales of the manufacturer of Dearborn has received a boom in the post-Hurricane Katrina construction on the Gulf Coast.
"The housing market does not seem to be getting better – which is a concern," Ford sales analyst George Pipas said. "The prospects for a rebound are more remote today than they were four months ago."
The research firm Global Insight predicts that sales of Silverado is up 4.6 percent in April and Sierra sales will jump by 5.9 percent. And analyst estimates that sales of GM trucks were down April 3 percent.
GM sales in the U.S. fell in April may have an adjusted value of four percent, falling to seven per cent for cars and three percent for trucks, Christopher Ceraso holdings Credit Suisse in New York said. large vans GM 'may struggle given the overall weakness in the housing market, "said the note.
However, competition heats up truck. Toyota triggered the new Tundra. Nissan Motor Co. has launched its Titan truck. New Ford F-Series Super Duty truck lineup is now in showrooms. And both Ford and Chrysler Group are updating their older pickups up to 20 percent, Toprak said Edmunds. "They have sold more trucks on the market lower than last year, "he said of GM. "At least, this trend is positive."
Dealer Steve Cook, owner of Cook GM Superstore in Vassar, is seeing the problems of collecting first-hand. "It's a competitive market and manufacturers are struggling to get people to feel a good time to buy a truck, "said Cook.
About the Author
Jenny McLane is a 36 year old native of Iowa and has a knack for research on cars and anything and everything about it. She works full time as a Market Analyst for one of the leading car parts suppliers in the country today.
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