ADVERTISEMENT

DaimlerChrysler's Mercedes lifts European carmakers' US sales

Automotive

DaimlerChrysler AG's Mercedes boosted US sales by 12% in October, helped by demand for models including its R-class crossover vehicle, while the other large European automakers all posted declines.

Sales fell for BMW, Volkswagen AG, Audi AG and Ford Motor Co.'s Volvo, the biggest European brands in the US by volume, according to figures compiled yesterday by Autodata Corp. of Woodcliff Lake, New Jersey. Buoyed by Mercedes, the 15 European brands in the US eked out a 0.3% gain. “Mercedes continues to enjoy sales of new models, its SUVs and R-class,'' said Jim Sanfilippo, an analyst at Automotive Marketing Consultants Inc. in Bloomfield Hills, Michigan. “The light is shining brightly and will continue to next year.” The October sales reflected a rebound for Detroit's automakers from their worst month of 2005, with an 8.9% gain for General Motors Corp., Ford and DaimlerChrysler's Chrysler. Asian carmakers' US sales increased 3.6%. With year-earlier sales so weak for GM, Ford and Chrysler, “the comparisons look better than they actually are,” said Elisabeth Denison, an economist at Dresdner Kleinwort Wasserstein in New York.

Mercedes's sales surge to 20,613 vehicles left it just behind Bayerische Motoren Werke AG, the world's largest luxury carmaker, at 20,822 vehicles. Including sales by the Mini unit, Munich-based BMW's total was 24,464, down 4.4% from a year earlier. BMW attributed the October decline to its decision to limit its inventory of some vehicles while introducing newer versions of models including the X3 and X5 sport-utility vehicles. Volkswagen, Europe's largest carmaker, said US sales fell 7.4% to 15,942 vehicles as demand for Jetta and Passat models dropped. Ten-month US sales for Wolfsburg, Germany- based Volkswagen climbed 9.9% to 198,116 vehicles. “Volkswagen has had a good run,” Sanfilippo said. “The year-to-date increase is still noteworthy. They just have to ramp up their marketing to push their products into the market. More is always better.” Audi AG, Volkswagen's luxury-car unit, said US sales in October fell 3.4% to 6,431, led by a decline in deliveries of the A6 sedan. Sales by Ford's Volvo dropped 3.6% to 8,395 vehicles, pushing the brand's year-to-date decline to 7.9 percent. Fredrik Arp, CEO of Sweden-based Volvo, said in a September 29 interview that Volvo would boost US sales with new models in 2007. Porsche AG, the world's most profitable carmaker, said US sales fell 9% in October to 2,355 vehicles on lower demand for the Cayenne sport-utility vehicle. Stuttgart, Germany-based Porsche sold just two of its Carrera GTs, its most expensive model, down from 26 a year earlier. (Bloomberg)

ADVERTISEMENT

Czech economic confidence weakens in October Analysis

Czech economic confidence weakens in October

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

Budapest airport shuttle bus service expanded City

Budapest airport shuttle bus service expanded

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.