Jump to content
House Price Crash Forum
Sign in to follow this  
Democorruptcy

Us Car Sales Plunge 23%

Recommended Posts

DETROIT, Oct 1 (Reuters) - U.S. auto sales tumbled by 23

percent in September as showrooms emptied after the

government-funded boom from the "cash for clunkers" program, with

General Motors Co [GM.UL] and Chrysler hardest-hit. Sales for General Motors Co [GM.UL] and Chrysler -- the two

U.S. automakers struggling to regain momentum after emerging from

bankruptcy -- dropped by 45 percent and 42 percent, respectively. Ford -- the only U.S. automaker to have avoided bankruptcy --

managed to hold its sales decline to 5 percent from a year

earlier despite low inventories and reduced incentives for car

shoppers. Automakers had braced for a sharp pullback in September after

the clunkers program and taxpayer-funded credits of up to $4,500

drove sales sharply higher the month before. The overall result was in line with those forecasts as

industry-wide U.S. auto sales dropped 41 percent from August,

according to Autodata Corp. On the annualized basis tracked by analysts, industry-wide

U.S. auto sales dropped to 9.2 million vehicles in September, the

weakest sales rate since April

http://uk.reuters.com/article/idUKN0128244620091002

Surely car prices will drop now?

Our lot have extended the scheme to prop up high prices. That money is going straight from the public into car executive bonuses.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   296 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.