Filed under: Car Buying, Earnings/Financials
U.S. auto sales predicted to plummet to 13.4 million in 2009
Light-vehicle sales in the U.S. are expected to continue their decline in 2009. Global Insight, a firm that has been forecasting sales since the 1960s, is predicting sales of 13.4 million units next year. That figure is slightly down from the 13.8 million units automakers are expected to sell in 2008. (For comparison to recent years, 16.1 million vehicles sold in 2007 and 16.5 million units sold in 2006.) Global Insight makes note of the current U.S. credit crisis and the worsening global economy, citing the worldwide financial situation is more detrimental to auto sales than oil at $200-a-barrel. When oil is high, at least the countries benefiting from the oil profits continue to purchase cars – unlike today. While analysts differ on when we may see a turnaround, the firm feels it could take until 2013 for sales to recover to levels seen just a few years ago.
[Source: Automotive News, subs. req'd]
Reader Comments (Page 1 of 1)
stevereportdotcom 7:07PM (10/08/2008)
Does that mean dealerships will get desperate enough for me to buy a new M3 for 30k?
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JD 8:33PM (10/08/2008)
Sadly, they're not that desperate. :)
jamie 10:48AM (10/15/2008)
i hope this makes you feel better
http://www.babespad.com
ALEXDB9 7:11PM (10/08/2008)
Never mind about auto sales, that pic had me laughing for about 2 minutes.
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Yaroukh 3:13AM (10/09/2008)
4mins here :))
HotRodzNKustoms 7:38PM (10/08/2008)
That is a tad on the optimistic side if you ask me.
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Cardude 8:01PM (10/08/2008)
I thought all of those oh so great golly gee whiz wonderful small cars were supposed to save the day?
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the vegas style guy 9:51PM (10/08/2008)
I haven't even read this post yet and I'm LMAO! That picture is dead on for illustration! Good one Dude(dette)!
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jimjam 1:04AM (10/09/2008)
Great picture, stale forecast and Untrue headline.
Sorry for being the thinker in the group, but you can't intelligently use the word "plummet" for a 3% decline from the previous year. An accurate headline would be: "..Plummet in 2008 and are predicted to decline further in 2009".
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Thomas Casey 11:14PM (10/09/2008)
As pointed out over at Instapundit, any decent car with decent maintenance will last a long time--and who can tell one year from another anyway? Most people can think of many good reasons to drive Old Reliable another year--or two, or three.
Plus I can guarantee you that any replacements in this household will be made by a company that has treated me right. The company's name starts with a "T" and ends with an "A".
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