Posted on 09/02/2010 8:02:25 AM PDT by ChicagoConservative27
NEW YORK (CNNMoney.com) -- The nation's top automakers reported disappointing sales Wednesday, resulting in the worst August for industrywide auto sales in 27 years. According to sales tracker Autodata, U.S. new vehicle sales fell just short of 1 million vehicles, a drop of 21% from a year ago, which included Cash for Clunkers. That federal program created a sugar rush of sales by dangling an incentive of up to $4,500 in cash for buyers who traded in older gas guzzlers for more efficient models.
(Excerpt) Read more at money.cnn.com ...
And why is anyone surprised???
Mopar up 7%!
But we're on the road to recovery. The unemployment rate will probably keep dropping as people give up all hope and stop looking for work. It's all good! [/s]
But but but...Joe Biden says this is the Summer of Recovery! Maybe his hair plugs are in too deep.
"unexpectedly"
I don’t understand, how could GM out sale any other car manufacture? I think it is outright unpatriotic to buy GM, they, and obumber, should be shunned.
I’m looking at a chart that goes back to 1993, and virtually every month of sales we’ve had for the past 2 years have been the lowest since at least 1993.
The ONLY exception was the one-month blip last August, because of Cash for Clunkers.
Otherwise, last August probably would have been the worst, and this August would have been the 2nd worst.
The monthly “seasonally adjusted” rate was over 14 million since 1993, and dropped below that in late 2008. last year it was below 10 million for most of the year, this year it has been just above 11 million for most of the year; except for last august which was just at 14 million, which was still barely in the same range as the lowest during the entire time from 1993 through 2008.
Sounds like a perfect time to buy a new car ... which I shall be doing in the next few weeks. In my 38 years of driving, I’ve only bought 2 new cars ... but with the deals that are available it does not make sense to buy a used car. I’ve come full circle on that one ...
And on the same day wall street experiences a strong rebound?
That makes exactly ZERO sense?
Why would the market not reflect this disaster in auto sales, a huge part of our economic engine?
The population then was 233 million, compared with 308 million today, a 32% increase. Also, the expectation today is at least one car per adult, often with “his”, “hers”, and “theirs”. Perhaps cash for clunkers was not a good idea, shifting the sales so that this dip would interfere with a chance at recovery. Perhaps nationalizing the industry and ripping off the GM and Chrysler bond holders who should under contract law have been paid was an equally bad idea. Perhaps the general aura of fear as people wonder what illegal and anti-freedom decree will be inspired next by Pelosi’s lust for power or the Obama regime’s desire to control our lives. In any case, I’m not surprised that this has been a terrible month in Obama’s frightening second year.
and in August 1983 your choice was between a Renault LeCar, a Chrysler K-car, and a Ford Granada.
That can’t be! Chevrolet claims 1,000 a month switch to Chevy!
Yeah ... right.
It’s not a thousand a month, they claim 1000 PER DAY. Doesn’t seem possible.
If the cash for clunkers worked and the rebates worked why not continue them?
It’s not a thousand a month, they claim 1000 PER DAY. Doesn’t seem possible.
If the cash for clunkers worked and the rebates worked why not continue them?
The very next year there was the all-new American Motors Jeep Cherokee (the first of what is now called an SUV, I think). I rushed out and bought one. It fell apart before it got to 70,000 miles.
Per day?! Bigger liars than I gave them credit for.
Surprising Wednesday!
because about the only thing it stimulated was the earnings for Toyota.
An analysis of the project showed the that the #1 car bought under the program was a Toyota Camry.
At least GM had an excuse then - they were trying to pimp those god-awful Citations by Chevy and Cimmarons by Cadillac. It was just a puke product in a down economy.
This time they allowed themselves to be stolen at the point of a gun by Obama and gift-wrapped to the UAW.
No thanks. I sold my CTS last December because of this. I’ll never own another GM product.
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