Filed under: Car Buying, Earnings/Financials
Up until 2008, vehicle sales in the U.S. crested 16 million units for nine straight years. Though November of this year, sales were down overall to 12.35 million vehicles - 16.3% off the same 11-month period in 2007. There's no doubt that 2008's new car sales won't be anywhere near the 16.15 million units sold in 2007, and 2009 is sure to worse.According to the consulting firm CSM Worldwide, new car and truck sales in the States next year will total approximately 11.5 million units, down some 4.65 million sales over the high-water mark in 2007. Consumers current inability to secure a line of credit for vehicle purchases, or simply their unwillingness to spend thousands of dollars during an economic downturn, is sure to continue into the new year, and that spells disaster for the Detroit 3. CSM maintains that Motown's marketshare is like to drop to between 43 and 44 percent in 2009, down from 47.4 percent through the first 11 months of this year. And that's assuming that one of the Big Boys from Detroit doesn't go under in the interim.
[Source: Automotive News - Sub. Req.]
Study says U.S. sales will fall to 11.5 million in 2009 originally appeared on Autoblog on Thu, 11 Dec 2008 13:32:00 EST. Please see our terms for use of feeds.
Read | | |
Related posts:
- Four-Links – Kaiser dream cars, Star Trek Cadillac, Duesenberg racer, Steamin’ Demon
- A real Bob Evans hot rod – down on the farm grain truck becomes most unexpected hot rod
Related posts:
- The PT Cruiser convertible is the log. .
- What Brand/Model Car Is This?
- Is there only room for a Big 2?
- What Domestic Car Are You Going To Miss The Most? [Question Of The Day]
- KickingTires: Looking Back at 2006
