Correction: GM and Chrysler Sales Down 19%
OK. So it turns out computing monthly auto sales is somewhat akin to doing taxes– it depends on who's doing the figuring. Using Automotive News' [sub] numbers (which we also use for the " By the Numbers" analysis), and ignoring the accounting slight-of-hand known as "sales days," Chrysler's March sales sank by 19.4 percent compared to last March, to 166,386 vehicles. GM's sales dipped by 18.7 percent, to 280,713. And Ford moved downwards by 14.1 percent, to 226,448 units. As you'd expect in these gas-conscious times, light truck sales (or lack thereof) account for the lion's share of the losses (down 15.5 percent in GM's case). As these vehicles also account for the majority of the domestics' profits (or lack thereof), that's gonna leave a BIG mark on their balance sheets. And don't get to thinking that "at least they're maintaining their market share." Although Toyota took a 10.3 percent hit in March, Honda and Nissan each dropped only 3.2 and 3.8 percent respectively. In a generally lower market (down 12 percent), they're eating someone's lunch.
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Well, Wulv, many of these folks in fly-over land who signed the petition already bought Toyotas, Hondas, Hyundais and Kias and are no longer in the market for a new POS - I mean, Ford. Just answering in kind. Actually, I did notice that Fords sales had gone down significantly less than the 19% drop seen by GM and Chrysler, and wondered if some fly over folks were back at the Ford dealers after 18 months or whatever it was. You can mock we fly over folks but good luck on getting anything to eat if WE all go on strike, as some truckers currently are.
@Bunter: You tell me. That one never made sense to me.
Capt-Ya', and rebadging has always worked so well before...go figure. Note on Ford scores. Lately they have been tracking close to the industry level up/down most months. Somethiing like stability? Seemed to happen since they scored well in the last CR reliability survey. Not sure if it's related. GM and the 3 headed pooch continue to sink as their reliability continues to stink. (OK, most are mediocre, but that doesn't rhyme). Whimsically, Bunter
When one considers that the 2.8 are SERIOUSLY mismanaged with little hope of recovery (with current management and product mix), i'm taking bets on which will be the first to file Chapter 11? My money is on Chrysler being first followed by the even worse (is that even possible?) managed FoMoCo. FoMoCo's troubles start at the Ford family level and go down (like the company they manage!). GM is harder to predict. But it comes down to the simple fact: The 2.8 are sinking and sinking fast!