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Says
“We’re look­ing at (sales) as high as 16.9 mil­lion units depend­ing on the quick­ness & strength of the recov­ery and assum­ing no one does any­thing eco­nom­i­cal­ly stu­pid like repeal­ing tax cuts.” — Art Spinel­la, VP & gen­er­al man­ag­er of CNW
Significant Points
CNW cites stronger corp fleet sales & steady con­sumer spend­ing which makes up > 80% all vehi­cle sales
Wards pre­dicts rebound in fleet deliv­er­ies, good eco­nom­ic news, gen­er­ous retail incen­tives & low inter­est rates to dri­ve vol­ume in May & June
Strong May-June vehi­cle pro­duc­tion sched­ules even tho inven­to­ry rose 1.6% dur­ing Apr
May increase would be 2nd straight month w/ gain over yr-ago
Apr sales were up 2.8%
Only Ford among high-vol­ume automak­ers, expect­ed to have low­er sales
Wards fore­casts strong mar­ket into June
2nd Q over­all 17M sea­son­al­ly adjust­ed annu­al rate (SAAR) top­ping 16.7M from Apr-June 2001
Wards fore­casts May’s SAAR at 17M, down from Apr 17.3M, but top­ping year-ago 16.4M