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Toyota Sales Pace Cools (10/26/12)

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  1. General Motors0:50, 3:05
  2. interest rates1:59
  3. vice president1:08
  4. United States1:31
  5. GM0:55
  6. JD power1:35, 1:55
  7. PSA Peugeot Citroen4:23
  8. US government3:04
  9. consumer sentiment2:01

Fri, 26 Oct 2012|

China chills Japanese giant’s Q3 growth; U.S. Oct. sales may approach Sept. strength; Snyder: U.S.-Europe II

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Automatically Generated Transcript (may not be 100% accurate)

Hello I'm Jennifer bond. Match US and European auto rescues. Jessica Schneider returns with a part to report. But first a look at your headlines. Toyota reporting today that its global sales rose 28%. To seven point four million in the first nine months of the year. Normally that would be an impressive increase. But it marks a decline from the 34%. Gain chalked up after six months. Plunging sales in China following anti Japan protests in that country. Cool Toyota's third quarter gains. EPA says the global sales race with General Motors could tighten as a result. Toyota had overtaking GM through June bouncing back from last year's earthquake in Japan. Look for Toyota to posing as much as say 20% rise in US sales for October. Group vice president bill -- cheering the forecast in an interview with Bloomberg. That would be a sharp falloff from recent months -- not a maker reported gains it high is 87%. But it should still be strong enough to get to a yet adopt another boost in US market share. And -- total light vehicle sales in the United States will -- 11%. So says JD power & Associates in its latest forecast. What's more the seasonally adjusted annual sales rate is projected to hit fourteen point eight million. That would be just shy of September's fourteen point nine million which was the highest since March 2008. -- JD power analyst saying in improving job market low interest rates and rising consumer sentiment. Are helping overcome a fragile economy. Auto makers will release their tallies on November 1. Yesterday are just -- senator discussed how the US auto market hasn't rebounded. While you -- up is still falling. Today Jesse tells us why. A quick recap if you're just joining us. Yesterday we showed how European and US auto sales -- since 2007. EU volume falling less than in the US in the first two years of crisis that a US rebound but Europe continued dropping. Why the different paths the biggest factor in auto sales is the economy. The US economy is growing and EU economies mostly -- so US auto sales are healthier. But governments don't let a vital industry die they already under the rescue. But their economies and the structure of the US and the U dictated the form of individual rescues. The US government -- General Motors and Chrysler through bankruptcy court where they shed plant's workers and -- painful. But the downsized companies survive the rescue goal. The EU is 27 sovereign nations each with intense self interest. The European auto industry had to cut capacity. But individual governments didn't want local downsizing. They wanted to save local jobs. EU bailouts were cash to buyers to boost local sales and save local jobs. Downsizing. Didn't happen. Two reasons rivalry and job mobility. Look -- competition between EU member states plays out in the US carmaker looks at five plants and shots one. In Europe those plants are in five different countries. Each government demands any closing be in another country offers cash to stay. And smiles at anybody organized in a local boycott. Traditionally the auto maker fools -- closes no plants cut capacity 20% of all five and swallows the lost the efficiency. The latest crisis could change that. This week forwards that it'll close a Belgium plant that's different. Or maybe nothing changes PSA Peugeot Citroen plans to close a plant in all of France this week France said. We'll give you the rescue you need if only stays open. Now mobility. Americans changed jobs Easley. Lose the job get another relocate can do European jobs are hard to get harder to replace. With 38 official languages and EU real low can mean a new tongue your kids. Still on university track or trade school. Germans less mobile workers must give six months notice to change jobs. You can find a new place which it may have to buy kitchen. Here's ours when we -- again and 9000 euros later. Bottom line. Europe and the US and their separate and on equal auto industries offer unique opportunities. And challenges. Jennifer. Thank you Jesse for that report. That is their time for now enjoy your weekend and -- you Monday morning.

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