- Dec 14, 2000
- 68,143
- 10
- 81
wall street journal
General Motors Co. said its September sales plunged 45% from a year earlier and Chrysler's fell 42%, while Ford Motor Co. saw a much more modest drop of 5.1%. All three were hurt by the industry's weakness after the expiration of the U.S. government's "cash-for-clunkers" rebate program.
Toyota Motor Corp., meantime, said its September sales declined 16.1% from a year earlier, while Nissan Motor Co. saw its results fall 7% and Honda Motor Co. said its U.S. sales slid 23.3%.
GM, the largest U.S. auto maker, said it sold 156,673 cars and light trucks in September. It said that figure represents a 36% decline from the prior month.
Industrywide, car sales surged in late July and most of August while the clunkers program was in effect, giving certain new-car buyers up to $4,500 in rebates if they traded in a gas-guzzler.
Analysts believe the rush to buy a car under the program siphoned sales from September and possibly later in the year, leading to projections of sharp year-over-year declines for the industry
/sniped
ouch. but err yeah no surprise. should be interesting to see how the next 4-5 months are that will be the real story.
not really a suprise that sales fell so damn sharp. just hope they pick up but nobody expects them to. I figured those that purchased were going to purchase soon anyway but the C4C just uped the time table.
General Motors Co. said its September sales plunged 45% from a year earlier and Chrysler's fell 42%, while Ford Motor Co. saw a much more modest drop of 5.1%. All three were hurt by the industry's weakness after the expiration of the U.S. government's "cash-for-clunkers" rebate program.
Toyota Motor Corp., meantime, said its September sales declined 16.1% from a year earlier, while Nissan Motor Co. saw its results fall 7% and Honda Motor Co. said its U.S. sales slid 23.3%.
GM, the largest U.S. auto maker, said it sold 156,673 cars and light trucks in September. It said that figure represents a 36% decline from the prior month.
Industrywide, car sales surged in late July and most of August while the clunkers program was in effect, giving certain new-car buyers up to $4,500 in rebates if they traded in a gas-guzzler.
Analysts believe the rush to buy a car under the program siphoned sales from September and possibly later in the year, leading to projections of sharp year-over-year declines for the industry
/sniped
ouch. but err yeah no surprise. should be interesting to see how the next 4-5 months are that will be the real story.
not really a suprise that sales fell so damn sharp. just hope they pick up but nobody expects them to. I figured those that purchased were going to purchase soon anyway but the C4C just uped the time table.
Facebook
Twitter