Sept car sales tracking at lowest of recession

Discussion in 'Economics' started by silk, Sep 21, 2009.

  1. silk


    September Auto Sales Go Clunk reports that “September’s light-vehicle sales rate will fall to 8.8 million units . . . the lowest rate in nearly 28 years, tying the worst demand on record. After the cash-for-clunkers program boosted August sales to their first year-over-year increase since October 2007, demand has plunged. In at least the last 33 years, the U.S. seasonally adjusted annual rate has only dropped as low as 8.8 million units once — in December 1981 — with records stretching back to January 1976.”

    The S&P cash for clunker rally seemed to start around 975 on the S&p on all the cash for clunker talk and huge July Aug auto sales. I'm wondering if most of those 90 points on the S&P will be erased if now we back to crap.
  2. silk


    “Many people regard February as the darkest month of the recession, but even then (sales were) higher, at 9.1 million units,” adds statistician Zhenwei Zhou.
  3. who buys cars in Sept? I'm no longer going to trade against Obama. The world is not coming to an end because a black lives in the white house. I use to think that and I use to trade that what until I stopped watching FOX news.
  4. there is not much inventory of 2009s left. people are waiting for 2010s to arrive.

    Sept. 2 (Bloomberg) -- General Motors Co., Ford Motor Co. and Chrysler Group LLC may be able to boost production and cut profit-sapping incentives as unsold vehicles at dealers plunged to the lowest level since at least 1985.
  5. S2007S


    You actually believe that the reason sept car sales are at the lowest is due to people waiting for the 2010s to arrive.

    Are you that serious.

  6. gee, who'd a thunk cash for clunkers would canabalize future car sales?

    you wouldnt have expected something like that
  7. unlike you i have been in the car business so i understand it.
    the cash for clunkers combined with factory shutdowns last year depleated the desirable inventory so dealers are not running year end rebates like last year so buyers are just waiting for 2010 models. why buy a 2009 now if there are no real discounts?
  8. funny thing is that 61 impala convertable profiled in the video is worth what 2 brand new chev impalas are today.
  9. #10     Sep 22, 2009