U.S. vehicle market on the road to recovery

The U.S. new vehicle market looks to be on the long road to recovery, according to latest figures from JATO Dynamics, which points out that vehicle sales in the United States for the first quarter, 2010, were 15.7 percent higher than the same period, 2009 -- although they remain some way distant of the pre-recession first quarter of 2008.

In total, 2.5 million cars and trucks were sold in the first quarter of 2010, compared to 2.2 million during the same period last year. Both figures are still well down on the 3.6 million sold in the first quarter of 2008.

Every single one of the top five brands in cars and trucks have all increased sales when compared to 2009, but despite these changes in sales volumes, the proportion of cars and trucks has stayed virtually unchanged, with each accounting for around half the market.

“It would appear the U.S. new vehicle market is mirroring the wider U.S. economy, in heading toward a tentative recovery, in both car and truck sales," says David Mitchell, president Americas. "The encouraging element is perhaps the experience of domestic manufacturers, with Ford and Chevrolet as the top two brands, both recording healthy sales gains.”

As the leading brand in overall sales, Ford has posted a 40.4 percent increase in total sales and a 60.3 percent rise in its car sales, versu the first quarter of 2009. Overall, Ford gained 2.7 percent market share in the first three months of 2010, its best quarterly performance since 1977.

While Ford trucks outsell cars almost 2:1, recent introductions such as the Fusion hybrid have helped the brand react to customer demand for more economical vehicles and end the quarter with 381,868 total sales.

Chevrolet – second overall and with a 38.8 percent total sales increase – also outsold import brands in combined car and truck sales, on its way to 337,785 new customers. It is second placed for both car and truck sales.

Of the major Japanese brands – Toyota, Honda and Nissan – only Nissan increased overall market share. Toyota’s total market share slipped back, from 13.9 percent last year, to 12.8 percent in the first quarter this year, yet the brand retained its car sales crown, thanks to the enduring popularity of its Camry and Corolla/ Matrix models.

For more information, visit www.jato.com.