Cars and Drivers
Foreign & US Autos, A Nursing Home Beauty Contest (GM, F, TM, HMC)
Published:
Last Updated:
It was no secret that US auto sales were going to be down the drain. Frankly, it is hard to find many who really expect any sudden recovery. The election on Tuesday and lower gas prices are not believed to have any material impact in the sector either. It is almost starting to look like a beauty contest for nursing home residents. There is just no way to make these companies look pretty.
- General Motors (NYSE: GM) -45% with cars down 34% at 169,000 light vehicles and light truck sales down 51%.
- Ford Motor (NYSE: F) -29% with 132,000 light vehicle sales.
- Chrysler (private) -35%, with 95,530 units.
- Honda Motor (NYSE: HMC) was down 25% to 85,864 as car sales declined 22% and truck sales fell 29%.
- Toyota Motor (NYSE: TM) -25.9% to 152,101 vehicles, with Toyota brands down much less than Lexus.
The good news is that GM did not get surpassed by Toyota. These numbers can’t decline forever. Because of auto accidents, car leases ending, and a general feeling of now wanting to drive an oldbeater, there will be new cars being purchased again. It just won’t be any time very soon.
Jon C. Ogg
November 3, 2008
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
