November Car Sales...

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ponyo

ponyo

Lifer
Feb 14, 2002
19,688
2,811
126
That's real bad when Toyota offered 0% financing across the board and still had 34% sales decline. Forget recession; Auto market is in a depression.
 
PricklyPete

PricklyPete

Lifer
Sep 17, 2002
14,582
162
106
Yikes. I'll be interested to see GM's numbers. That's definitely not a good sign when even strong players like Toyota are having such a hard time of it. Good for VW...can't wait till the next GTI.
 
ponyo

ponyo

Lifer
Feb 14, 2002
19,688
2,811
126
Originally posted by: iamwiz82
GM just listed their sales. 41% drop.
Click to expand...

That's just ugly. They must have released the results at 1:30pm. Their stock dropped like a rock from that moment.

It's kind of hard to sell cars when only 760+ credit score people can financing from GMAC and that rate is like 13%.
 
PricklyPete

PricklyPete

Lifer
Sep 17, 2002
14,582
162
106
Originally posted by: Naustica
Originally posted by: iamwiz82
GM just listed their sales. 41% drop.
Click to expand...

That's just ugly. They must have released the results at 1:30pm. Their stock dropped like a rock from that moment.

It's kind of hard to sell cars when only 760+ credit score people can financing from GMAC and that rate is like 13%.
Click to expand...

Yikes...those sales really are horrible. I hope things start getting better. Is the financing really that bad? Wow...is that just GMAC or is it freezing up like that across the board? I'll have to check my FCU as they've had a constant 5% rate for as long as I can remember which always seemed a bit steep compared to some of the "financing deals" you could get at the dealership.
 
D

desy

Diamond Member
Jan 13, 2000
5,446
214
106
GM can't offer the financing like they used to, or lease deals on trucks that depreciate ergo a lot of sales are lost
 
ponyo

ponyo

Lifer
Feb 14, 2002
19,688
2,811
126
Originally posted by: PricklyPete
Originally posted by: Naustica
Originally posted by: iamwiz82
GM just listed their sales. 41% drop.
Click to expand...

That's just ugly. They must have released the results at 1:30pm. Their stock dropped like a rock from that moment.

It's kind of hard to sell cars when only 760+ credit score people can financing from GMAC and that rate is like 13%.
Click to expand...

Yikes...those sales really are horrible. I hope things start getting better. Is the financing really that bad? Wow...is that just GMAC or is it freezing up like that across the board? I'll have to check my FCU as they've had a constant 5% rate for as long as I can remember which always seemed a bit steep compared to some of the "financing deals" you could get at the dealership.
Click to expand...

Well that's what I've read. It's just GMAC right now but that could change as cheap credit is getting hard to come by for all companies. It cost GMAC much more than 13% to get funding right now. I don't even think they can even get credit from the credit market right now.
 
FeuerFrei

FeuerFrei

Diamond Member
Mar 30, 2005
9,144
929
126
I wonder if Toyota was riding high this time last year resulting in greater disparity.

I guess way fewer people are springing for a new car these days; too many worries about private investments.
 
W

woodie1

Diamond Member
Mar 7, 2000
5,947
0
0
I priced a new Camry last month around here and the dealers didn't seem interested in making a sale. Let them sink.
 
rh71

rh71

No Lifer
Aug 28, 2001
52,844
1,049
126
if any of you use mint.com, under the trends tab, you can compare your spendings (in any & all categories) with cities, states, and all of USA. You'll notice for November there was a sharp decline... about only half was spent compared to October. That's as real as it gets... "seeing" other people's bank & credit card statements - nobody is spending much these days.
 
joesmoke

joesmoke

Diamond Member
Nov 2, 2007
5,420
2
0
Originally posted by: woodie1
I priced a new Camry last month around here and the dealers didn't seem interested in making a sale. Let them sink.
Click to expand...

One of the least discussed "expected luxuries" in the industry. I love how dealers still think consumers are stupid cows...

"Don't worry about out the door price or APR... just tell us what you can afford to pay a month"
 
PricklyPete

PricklyPete

Lifer
Sep 17, 2002
14,582
162
106
Originally posted by: woodie1
I priced a new Camry last month around here and the dealers didn't seem interested in making a sale. Let them sink.
Click to expand...

That just sounds like typical Toyota Dealership practice...nearly all the dealerships are asses thinking that everyone who comes to the store wants the vehicles they sell. I even own a Toyota...but I have hated ever dealership I've ever worked with. Sure there has been a nice salesman here or there...but the dealerships as a whole are way too "holier than thow". Ironically when helping a friend buy a Lexus...we had the exact opposite experience...but then Lexus dealerships are trained to be brown-nosers.

Go to a Chevy or Ford dealership and I'd be REALLY surprised if you got the same response. Give Toyota a few more months of lowered sales and I think the dealerships will start shaping up.

 
W

woodie1

Diamond Member
Mar 7, 2000
5,947
0
0
Originally posted by: PricklyPete
Originally posted by: woodie1
I priced a new Camry last month around here and the dealers didn't seem interested in making a sale. Let them sink.
Click to expand...

That just sounds like typical Toyota Dealership practice...nearly all the dealerships are asses thinking that everyone who comes to the store wants the vehicles they sell. I even own a Toyota...but I have hated ever dealership I've ever worked with. Sure there has been a nice salesman here or there...but the dealerships as a whole are way too "holier than thow". Ironically when helping a friend buy a Lexus...we had the exact opposite experience...but then Lexus dealerships are trained to be brown-nosers.

Go to a Chevy or Ford dealership and I'd be REALLY surprised if you got the same response. Give Toyota a few more months of lowered sales and I think the dealerships will start shaping up.
Click to expand...

You hit the nail on the head when it comes to Toyota Dealers. I don't think much of Lexus either. Last one of them I bought was a '93 SC400.
 
SearchMaster

SearchMaster

Diamond Member
Jun 6, 2002
7,791
114
106
Originally posted by: woodie1
Originally posted by: PricklyPete
Originally posted by: woodie1
I priced a new Camry last month around here and the dealers didn't seem interested in making a sale. Let them sink.
Click to expand...

That just sounds like typical Toyota Dealership practice...nearly all the dealerships are asses thinking that everyone who comes to the store wants the vehicles they sell. I even own a Toyota...but I have hated ever dealership I've ever worked with. Sure there has been a nice salesman here or there...but the dealerships as a whole are way too "holier than thow". Ironically when helping a friend buy a Lexus...we had the exact opposite experience...but then Lexus dealerships are trained to be brown-nosers.

Go to a Chevy or Ford dealership and I'd be REALLY surprised if you got the same response. Give Toyota a few more months of lowered sales and I think the dealerships will start shaping up.
Click to expand...

You hit the nail on the head when it comes to Toyota Dealers. I don't think much of Lexus either. Last one of them I bought was a '93 SC400.
Click to expand...

I had the same experience with Toyota when looking at a minivan. We had gotten a nice quote on a Sienna in March but decided not to buy anything at that time. 6 months later, they wanted $2K more than their original quote and refused to negotiate further. We got a much better deal on the Odyssey we ended up purchasing.
 
PricklyPete

PricklyPete

Lifer
Sep 17, 2002
14,582
162
106
Originally posted by: Skoorb
Just reported on CNN, Chrysler down 47%.
Click to expand...

For the love of God...that's just horrendous. Of course (as I've said in many other threads), I just don't see what high volume cars Chrysler makes that people would really choose to buy...so I'm not that surprised.

I have to say that I'm impressed with Ford saying they don't need the bailout money with numbers like this. Either Mulally is working magic over there...or they got some secret stash. Kudos to them for selling their private jets and reducing Mulally's salary to $1 even if both are essentially symbolic. They are sending the right kind of message as a company.
 
StageLeft

StageLeft

No Lifer
Sep 29, 2000
70,150
5
0
Originally posted by: PricklyPete
Originally posted by: Skoorb
Just reported on CNN, Chrysler down 47%.
Click to expand...

For the love of God...that's just horrendous. Of course (as I've said in many other threads), I just don't see what high volume cars Chrysler makes that people would really choose to buy...so I'm not that surprised.

I have to say that I'm impressed with Ford saying they don't need the bailout money with numbers like this. Either Mulally is working magic over there...or they got some secret stash. Kudos to them for selling their private jets and reducing Mulally's salary to $1 even if both are essentially symbolic. They are sending the right kind of message as a company.
Click to expand...
Ford started it. Ford will end it! It is nice to know that they are not completely dead in the water as GM and Chrysler appear to be.

 
D

desy

Diamond Member
Jan 13, 2000
5,446
214
106
VW doesn't sell crap in NA so a sales increase of nothing only looks good.

http://www.businessweek.com/gl...index+page_top+stories

Winterkorn must also question his growth strategy, which involves almost doubling VW sales by 2018. This would have meant job security for the group's 330,000 employees. But because there is likely to be no growth at all in the next two years, VW has the problem of having too many employees, and company executives assume that VW will have to eliminate several thousand jobs. This will most likely affect some of VW's 18,000 short-term employees and its 25,000 temporary workers.

 
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