Bankruptcy

As Detroit goes, so goes the US Economy

By J. Michael McBride

Here are some of the latest numbers on car sales. Two thoughts, one, it is bleak all over (including Honda and Toyota) and two, it is really bleak.

“Honda Motor's U.S. sales dropped 32% to 76,233 as its two strongest vehicles, the Accord and the Civic, recorded drops of 38% and 30%, respectively.

GM reported light-vehicle sales of 153,404, down from 261,273. There were 25 selling days in November - the same as a year earlier. It was the second straight month in which GM's sales fell below 200,000. October's sub-200,000 tally was the first since at least the 1970s.

GM car sales fell 44% and light trucks slid 39%....Mr. LaNeve pointed out that the industry sold about 34%, or 400,000, fewer vehicles in November than it did a year ago, equivalent to "the annual volume of two full production plants that have simply evaporated in a single month.”

Here is a link to the full article:
http://online.wsj.com/article/SB122823927738572881.html?mod=djemalertNEWS

“By brand, Mercury sales plunged 41 percent. Ford brand cars and trucks plunged 30 percent, and Lincoln sales fell 8 percent. Sales at Swedish high-end brand Volvo, which Ford said Monday it may sell, dropped 47 percent.”

Here is the link for the source of the second quote:
http://www.google.com/hostednews/ap/article/ALeqM5j4OyyaKafieHLnxRyvuKFipRfkTgD94QN5DG0

Michael

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