GM sales down 20%, Chrysler 15%, Nissan Down 3% WITH Cash for Clunkers!

Discussion in 'Stocks' started by ByLoSellHi, Sep 1, 2009.

  1. Lethn


    Anyone else find it funny that the very system they created is responsible for their ultimate downfall? They can't keep this up forever, it's impossible.
  2. Cash for clunkers was not as successful as we were lead to believe, under the program only 690k vehicles were sold when program was designed for 750k.
  3. Strip out the 700k in sales CFC was responsible for and the auto sales numbers are very, very troubling.

    Auto dealers whittled their inventory after purchases of almost 700,000 vehicles through the Car Allowance Rebate System. Sustaining August’s sales pace will be a struggle for the rest of the year now that the government cash is gone, Casesa said.

    “Dealers are saying as soon as the program ended everything stopped dead,” he said. The demand was “a total pull-ahead” of sales that would have been made in future months, not a permanent rebound in the market, Casesa said.