While there are folks predicting a turnaround in car sales and general economic fortunes by the end of this year, for now the status quo remains, and it can be summed up as: "Ouch." J.D. Power has put the early returns for March sales down 40% compared to the same month last year. It predicts sales of 633,000 cars to retail customers and another 165,000 to fleet customers for March of this year versus a March 2008 total of 1.07 million total sales. That would be an annualized rate of 9.2 million vehicles.
J.D. Power thinks "improvements on Wall Street and a boost in consumer confidence will help to bring the market back." We are not experts on the economy, but we don't know where such predictions come from, especially seeing that jobs are still being shed in the tens of thousands and boisterous Wall Street "improvements" are what got us here in the first place. For now, we'll light another candle for the car industry and hope things turn around for everyone soon.