Posted by Maria Palma in
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GM on 04 10th, 2012 |
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March 2012 Sales: What the Headlines Don’t Tell You
A February and March packed with auto shows and new-car reveals kept us from our usual posting schedule. We’re back now, and have rolled February trends into the analysis below. The collective mainstream reporting on auto sales during the past eight weeks could have been written by the automakers themselves: All-time sales records have been broken! But this apparent explosive growth is largely voodoo accounting. For the last four years, the American car market has been crippled by a pernicious economic crisis, a shortage of credit for financing and leasing, formal bankruptcies for two overripe automakers, and multiple natural disasters in Asia. Sales collapsed as people held onto older vehicles and model introductions were delayed. With credit now available, new mainstream models hitting the market, and production capacity recovered, how could we see anything other than large sales gains today? Below, we cut a slice of Porsche’s profit cake, look at the outgoing generation of Nissan Altima, and take a deeper look at the sales reports at VW and Ford. Who Wants to be a Billionaire? Porsche sales in March 2012: 2460 Percentage of those sales accounted for by the Cayenne: 51 Percentage of those sales accounted for by the Panamera: 27 Date on which Porsche confirmed Macan compact SUV: February 16, 2012 Number of results for the Google search string “Porsche purists cried foul”: 678 Percentage of Volkswagen voting stock owned by the Porsche family: 50.73 Minimum percentage of Porsche owned by the Piëch and Porsche families: 90 What the numbers reveal: The recent death of Ferdinand A. Porsche, who designed the 911 in the 1960s, led to a trillion obituaries that underscore just how much the 911 is the Porsche brand. But the Cayenne and Panamera bring in the money. The upcoming Macan compact crossover will print even more cash. And where does that money go? Most of the profit ends up in the bank accounts of the Piëch and Porsche families, who made news this month for—inexplicably—still struggling to merge two businesses they control. Ultimate Altima Number of fourth-generation Altimas sold in March 2012: 41,050 Date on which Nissan unveiled the all-new, fifth-generation Altima: April 4, 2012 Average amount below sticker for which the Altima sold in March...