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Auto sales tank
While I may disagree with lotp on some aspects of the present crisis, I do not disagree with her on its menace or magnitude. It is happening, folks. More evidence. It takes time for these forces to reach every part of the economy. Sort of like a tsunami. But it's headed your way. My opinion is no ifs, ands, or buts, its coming and you're the target.
Auto sales, which were weak over the past 11 months, fell off the table last month:
Ford Motor posted a 34% drop. Their truck and van sales fell 39%, SUV sales plummeted 57% and F-series truck sales dropped 42%.
Honda reported a 24% decline in sales;
Toyota U.S. Sept. sales drop 32.3%, light truck sales dropped 38%
Lexus sales -- Toyota's luxury nameplate -- fell 37.7%;
Volvo sales slumped 51.8%;
Porsche tumbled 45%;
General Motors sales down 15.6% (better than the expectations of -26%)
Nissan Sales down 37%
Mercedes-Benz reported sales off -16.4%
Volkswagen sales for September fell 9.4%;
Hyundai Motor's U.S. sales fell 25%;
Kia U.S. sales slide 27.8%
Chrysler report September sales later today
Edmonds.com noted that the last time fewer than 1 million new vehicles were sold in a month was February 1993.
Posted by: Nimble Spemble 2008-10-01 |
| http://www.rantburg.com/poparticle.php?ID=251563 |
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