Bankruptcy

One More Article on June Auto Sales

By J. Michael McBride

This article on the bleak report turned in for US auto sales for June is interesting because it provides a make by make break down on the sales numbers. Interestingly, Mini posted a 40.5% increase while not surprisingly, Hummer posted a 54.2% decrease. Pity the Hummer dealers who were forced to build million dollar stand alone dealerships in the last year or two. The sales numbers might be palatable if the overhead was low, like when they had shared dealerships with GMC, but in order to service the debt associated with the new buildings, these numbers are fatal. Of note, Kia, with its line up of new value oriented, fuel efficient cars, was up 21%.

Here is the link to the article: http://www.autoblog.com/tag/june+2008+auto+sales/

Michael

Full post as published by Texas Lawyer Blog on July 02, 2008 (boomark / email).