Auto Sales Still on the Decline
Looks like the next few months is still looking bleak for the auto industry as US auto sales plunged 41% last month. Each of the nation’s biggest car manufacturer experienced around a 10% drop in their sales compared with their numbers last year. According to the statistics gathered by experts, last month’s figure went way below last year’s which makes it the lowest since December of 1981. The sad thing is that people are saying there is more bad news coming in the months ahead.
I think people are still taking very careful steps these days and with credit still tight, people are still not feeling confident about purchasing something like a car. The drop for the car makers are as follows:
General Motors: 53% drop
Ford: 48% drop
Toyota: 39% drop
Chrysler: 44% drop
Honda: 38% drop
Nissan: 37% drop
