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Strategies & Market Trends : Waiting for the big Kahuna

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To: Bill Ounce who wrote (49925)	1/9/2001 12:05:00 AM
From: Skeet Shipman	Read Replies (1) of 94695

Auto Executives Expect Auto Sales Bottom Out In First Quarter Executives at General Motors and Ford expect U.S. auto sales to rebound later this year after a slow first quarter, making 2001 the third-best sales year in history. "We think things will bottom out in the first quarter and then will come up," said GM chief executive Rick Wagoner. GM is forecasting sales of about 16.5 million vehicles this year, down from the record 17.4 million in 2000. Ford North America chief Martin Inglis said, "I would hope we get some pick up (in sales) as we go into the second half." From the weekly data I am following this looks reasonable. From the high growth rate of the first part of last year slowing to a 3% on going rate this year causes a compounded slowdown this quarter, as reduced consumer spending and inventory reductions are worked through. The corporate bond market does concern me after the period of excessive free spending and credit we had. Skeet

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