The sales figures of the U.S. automobile sector have seen a hike of 9% in September, which is higher as compared to last year, and the highest since the month of April 2011. Japanese car makers, Honda Motors and Toyota Motor Corp., had a grave impact on their inventory and demand due to the earthquake in Japan, in April. A weak economy further slowed down the recovery of their sales in the following months, with the menace of recession during 2008-09 being proved as a disaster. However, in September, both companies have improved considerably in terms of market share, especially Honda Motors.
“It should be the cleanest number we have seen since April,” Peter Nesvold, an analyst with Jefferies & Co., was quoted as saying, regarding the September results. Moreover, experts suggest 12.9 million vehicle sales for the month of September. The auto sales have risen by 7%, as against the auto sales of last month.
However, the official sales report will be submitted on 3rd October, and is considered as a monthly indicator of consumer demand in America. Poor economic conditions have been fending-off a desperately needed bounce back of car sales. The sales figures for Honda cars suffered the most since April; however, changing the trend, the Japanese car brand is expected to give an exemplary performance in September.
General Motors, on the other hand, is expected to lay its hands over 20% of the new vehicles market in America. Ford Motor Co. is next in line, expecting to conquer 17% of the market share, followed by Toyota and Chrysler Group LLC with 12% of the market. Honda and Nissan Motor Co. Ltd are expected to subjugate a market share of 9% each.
Thus, September comes as a relief for the car makers, as the frequent interruptions and slowdowns have severely affected the position and image of a number of big names in recent times, let alone the average performers.
