U.S. auto sales will fall in 2006
General Motors' market guru, Paul Ballew, predicted Tuesday that total U.S. auto sales will decline in 2006, weighed down by higher interest rates and rising gas prices.GM is trying to stem the tide by launching a zero-percent financing offer on many 2006 models. The limited-time offer runs from June 29 through July 5.
GM's sales for the summer of 2006 are bound to suffer in comparison to the huge numbers posted during 2005's "employee-pricing" discount sale, but even the beginning of the year has been slow, with sales for the first five months of 2006 down 8 percent year-over-year.
[Source: Reuters]
Reader Comments (Page 1 of 1)
loikll 5:09PM (6/27/2006)
Well, sales will fall for GM, anyway. Pretty sure Toyota and Honda will make do.
The pathetic thing is, for a moment I was tempted to exploit GM's troubles by jumping on their 6-year upside-down-surprise loan firesale ... til I remembered there simply is no vehicle in the whole GM portfolio that I'd want to own.
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Michael Karesh 5:20PM (6/27/2006)
I've updated the programming of my price comparison site to report low rate deals and adjust the rebate accordingly. I'll upload the data tonight.
At the same time, I'll start reporting employee pricing on Chryslers. So it'll be possible to compare the impact of these two different deals. The Chrysler sale starts Saturday.
http://www.truedelta.com/prices.php
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MuthaTrucker 5:51PM (6/27/2006)
#1 Loikll,... It really would not do you any good to want a GM product, people with IO's of less than 50 can't get a license. So I guess that shuts you out, maybe your mama can drive you when she's not busy working the corner of Pimp and Screw.
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Crusin' 5:55PM (6/27/2006)
IO's?
You know... If you are going to try and slam someone... Oh, nevermind!
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Dee Clark 6:00PM (6/27/2006)
They sure can beat around the bush. I would pay more for their cars if they were made in America, like I would pay more for tomatoes,etc if they hired American workers and paid them a fair wage I don't think that they will ever learn until they go under.
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MuthaTrucker 6:07PM (6/27/2006)
4. IO's?
You know... If you are going to try and slam someone... Oh, nevermind!
Posted at 5:55PM on Jun 27th 2006 by Crusin' 0 stars
I know it's IQ Crusin', just checkin' your IO.
Hey Crusin', kiss my eighteen wheeler.
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Crusin' 6:30PM (6/27/2006)
MuthaTrucker... You are an IDIOT!
L2Grammer!
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Aki 7:15PM (6/27/2006)
I think my IQ--er, IO has been reduced a bit by reading these comments. And if we're talking about grammar--er, grammer, I think the correct way to say it is
"MuthaTrucker... Your and IDIOT!"
This comment section has made a turn for the awesome.
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MuthaTrucker 7:36PM (6/27/2006)
I am shocked and ashamed, and don't say nothin'bout bein' dismayed,.....woe is me.
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Talis 8:00PM (6/27/2006)
If I may inject a little bit of rational; common sense; and intelligence into this pathetic discussion about this non-head line news, I would like to point out that GM was not really the first per se in this years "incentive war" as DCX announced their employee pricing about a week ago. General Motors may have jumped on the band wagon because DCX folded first; maybe GM was planning on doing this anyway.
I would like to query whether or not this program is really worth the money spent in marketing costs. Also as we have seen in the not so distant past that deep discounts (not necessarily zero interest financing) can hurt the over all image of a company be it GM or Toyota, the preserved notion of the company is damaged.
I would not be too quick to call this program a "deep price discount" or even a part of the "incentive wars" because it is a finance deal for buyers who agree to pay over six years. This does not necessarily influence the total value of a vehicle that is not financed at all or not for the full six years. As such, this should not have any over lasting influence on the total resale value of the car with indifference to if it was financed or paid in cash.
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Michael Karesh 10:48PM (6/27/2006)
Ford was actually first, with 0% for 36-72 plus $1000 gas card. However, no one noticed.
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anahit 10:58PM (6/27/2006)
And in other news, the sun rose in the east today and Michael Bay makes dreadful movies.
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iQuack 1:32AM (6/28/2006)
Several of the above posts prove that ducks are smarter than many humans--even those humans who claim to have high IOs meaning "Idiots Obviously" here.
With respect to the subject, maybe GM's sales will decrease because GM is still more of a truck maker than a competitive car maker. High gas prices will favor economy cars, so expect Honda, and Toyota to do well even if interest rates rise a bit.
Higher car loan rates are less of a concern than a significant slowing of the economy that would depress the sales of just about anything whose purchase can be delayed.
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The other Bob 1:01PM (6/28/2006)
Dee Clark is a moron:
"I would pay more for their cars if they were made in America..."
Uh, dumbass, a majority of GM's cars that are sold in the U.S. are made in the U.S. Like I've posted before, the employees of the 70+ factories here would attest to it. I would prefer that all of them sold here, were made her, but realistically, I don't have a problem buying a Canadian made GM car, because they buy a ton of U.S. made cars. (Unlike the Japanese and other protectionist nations.)
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