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Automotive manufacturers are slated to report heavy declines in the month of August, the WSJ reports based on a study by JD Power. Even though, the industry has induced incentives to encourage sales but the forecast for the month is expected to be discouraging.
Estimates reveal that the sales would decline to about 1.21 million vehicles. And as per the seasonally adjusted annual rate the estimated figure is 13.4 million vehicles, which is a good 2.8 percent down from August 2007 figure of 16.2 million vehicles. However it's still an improvement of 6.3 percent from July.
There's the expectation that the sales would pick up the month comes to a close. The reason is attributed to GM's 100th anniversary sales event, which means that many of its products would be up for sale at the proverbial "employee pricing." Only last month GM reported a 27 percent drop in sales, making it the lowest in the past 16 years.
Hardly any of the major auto manufacturers were spared from the clout of declining sales during the first two weeks of August. At the same time the figures of the Nissan Motor Co. were better than the rest of the manufacturers.
Meanwhile autopart makers can't let their mind off the skyrocketing gas prices and tight credit, which is for the most part responsible for the has led to the current fiasco.
As the downturn is expected to continue for some time to come, and with the gas prices staying high, it seems that the UK and German consumers covet hybrids, as a recent study had revealed.
Estimates reveal that the sales would decline to about 1.21 million vehicles. And as per the seasonally adjusted annual rate the estimated figure is 13.4 million vehicles, which is a good 2.8 percent down from August 2007 figure of 16.2 million vehicles. However it's still an improvement of 6.3 percent from July.
There's the expectation that the sales would pick up the month comes to a close. The reason is attributed to GM's 100th anniversary sales event, which means that many of its products would be up for sale at the proverbial "employee pricing." Only last month GM reported a 27 percent drop in sales, making it the lowest in the past 16 years.
Hardly any of the major auto manufacturers were spared from the clout of declining sales during the first two weeks of August. At the same time the figures of the Nissan Motor Co. were better than the rest of the manufacturers.
Meanwhile autopart makers can't let their mind off the skyrocketing gas prices and tight credit, which is for the most part responsible for the has led to the current fiasco.
As the downturn is expected to continue for some time to come, and with the gas prices staying high, it seems that the UK and German consumers covet hybrids, as a recent study had revealed.
2 comments:
I predict we won't see growth in the market until after the election.
The economy is down, and consumer confidence is low.
This is all part of an election year cycle.
Once people know who their next president is, they will start buying cars again.
True, it's the election year and economy to blame. And also, I think that high gas prices have caused people to go for smaller cars, with many now showing interest in hybrids.
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