Consider this one facet - these are YoY sales, and June of 2008 was a horrid month, as the financial crash had begun and gas prices were high. In fact, June of 2008 was one of the worst sales' months in the last 30 years. It wasn't just GM, Chrysler & Ford. Toyota was down, as was Nissan, as will be Honda. Toyota was down 32% compared to last June, which was a bad month. Make way for the taxpayer-funded spin meisters when it comes to GM & Chrysler. Automotive News: http://www.thetruthaboutcars.com/june-saar-97m-with-75-reported/ BMW Group â20.3 percent Chrysler â41.9 percent Daimler AG â26.4 percent Ford Motor Co. â10.7 percent General Motors â33.4 percent Honda â29.5 percent Hyundai Group not reported yet Jaguar Land Rover not reported yet Maserati â47.9 percent Mazda not reported yet Mitsubishi not reported yet Nissan â23.1 percent Porsche â66.0 percent Subaru +3.4 percent Suzuki â78.0 percent Toyota â31.9 percent VW not reported yet Other â23.7 percent TOTAL â28.4 percent First six months 4,177,830 units sold, â37.2 percent
Toyota June Sales Fall 34.6 Percent http://www.thetruthaboutcars.com/toyota-june-sales-fall-346-percent/ GM Sales Slide 33.6% http://www.thetruthaboutcars.com/gm-sales-sink-33/ Chrysler Sales Tumble 42 Percent In June http://www.thetruthaboutcars.com/chrysler-sales-tumble-42-percent-in-june/ Ford Sales Down 10.7 Percent ***Before the Friends of the Blue Oval get out their Woo-Hoos, it behooves anyone looking at any of Juneâs new car sales figures to remember that todayâs percentages are all stated in relation to June 2008, which was a tremendously crap month for car dealers. Industry-wide, sales fell 18 percent, as gas prices rose and Americaâs economic bubble popped like a festering . . . you get the idea. If not, clock this factoid: June â09 marks the 24th year-over-year monthly decline in the last 25 months. Rose tinted glasses crushed under the jackboot of reality, letâs continue. . . âFord, Lincoln and Mercury sales totaled 148,153, down 11 percent versus a year ago, which is believed to be the monthâs lowest decline among major auto manufacturers.â Yes, itâs that bad out there that doing less bad than the other guys is considered a major victory. Click here for full results. Jump for instant analysis (just add page views). Again, Fordâs press release is full of the sales equivalent of moral relativism. http://www.thetruthaboutcars.com/ford-sales-slip-only-107-percent/
We all know the economy is not in great shape. What's the point of posting every single negative report. News only gives bias which could be the opposite of the underlying agenda.
Numbers don't look that bad to me. I think the worst is over and I'm loading the boat. I'll be very surprised if we don't see 1140 on Spoos by Halloween. The Fed is nowhere near even thinking about raising rates. Obama and the Dems are getting ready to nationalize the banks, energy, the environment, and health care. With the govt controlling that much of the economy, how can it go down?
The new normal in the U.S. will be dramatically worse. Unit sales in 2006 approached 17 million. They'll be lucky if they eke out 10 million this year. It'll probably be half closer to 9 million.
http://www.reuters.com/article/rbssConsumerGoodsAndRetailNews/idUSN0150682420090701 http://www.google.com/hostednews/ap/article/ALeqM5hSs7lVAdUjBFBrjv811VNdmmWbJAD995P0PG1
The days of perpetual leasing and buying new cars is pretty much done. I remember back in the 70s that people did not go out and have a new auto every 2-3 years. I think the new normal will be the old normal.