US Auto Sales Slump in 2008

2008 – Year of Ailing Auto Industry

The loss is immense and it would be difficult to come over it. Automobile sales in US in the year 2008 has slumped to level like 16 years. All the major automakers suffered huge losses. Last year the US automakers together reported to have domestic sales below 50% thats is 47.5%. This percentage is the least in the past one and a half decade.

Sales of Automobiles Plummet

All the automakers of US have reported to have downturn in their auto sales ratio. There has been significant low in the sales rate of all the automobiles like cars, trucks, hybrids and any other vehicle. The monthly as well as annual sales figures give a clear idea of the loss in the sales figure. The world's biggest automaker reported 28% in auto sales, Ford Motor Co. reported 22% , Chrysler LLC 30% and Honda Motor Co. by 8%.

Here's a Look at the Sales Percentage of The Automakers

% of Downfall in Sales in December

• GM by 31%
• Chrysler by 53%
• Ford by 32%
• Toyota by 37%
• Honda by 35%
• Jeep Wrangler by 29%
• Jeep Liberty by 27%
• Dodge Nitro to 51%

Downfall in Sales % in Annual Sales in 2008

• General Motors Corp. by 28%
• Chrysler LLC by 30%
• Ford Motor Co. by 22 %
• Toyota Motor Corp. by 15%
• Honda Motor Co. by 8 %
• Jeep Liberty were off 27%
• Jeep Wrangler declined 29%
• Dodge Nitro fell 51%

Automobile Industry In Year 2008

2008 brought in its wings some crucial setbacks for the automotive sector. The global recession has hit the industry badly bringing some major automakers to the verge of bankruptcy. Reports state that almost every nation's automobile industry is finding it difficult to survive with financial aid from government. Auto sales in major manufacturing regions have slumped.

$6bn More Auto Aid For U.S Auto Industry

It seems it is time for General Motors to rejoice. The US government has made the announcement for expanding the auto bailout of the auto industry. The government will provide an additional auto aid of $6bn. This auto aid will definitely make a huge difference to GMAC. $5bn out of this auto aid would be given to GMAC that is the finance arm of General motors. The remaining $1bn would be given to GM which would use the money to buy shares in GMAC. While funding the auto aid of $6bn, the government has also warned the automakers to use the money judiciously. It has also asked the companies to put forth restructuring plans as soon as possible. If not so, the automakers might have to face bankruptcy by the month of March.

These steps are being taken to bailout the auto industry from global economic recession and automatically suffering from heavy losses. In the first week of December, the US government had pumped in $17.4bn for the survival of U.S auto companies. The government had clearly stated that its can't afford to let the Big Three automakers die. $13.4bn of that auto aid was for the biggest automaker of the world General Motors, that was on verge of bankruptcy prior to bail out.

Best Cars of Year 2008

With the year 2008 passing by, here is a glimpse of some of the best cars that were unveiled this year. Some of the cars were known for their special features whereas others were known for their stylish looks. Auto lovers could not have asked for more. From engine to automotive accessories, these cars had something new to offer to them. This year showcased some elegant and terrific cars this year.

Chevrolet Silverado
Striking design coupled with unmatched performance, Chevrolet's new launch this year 'Chevrolet Silverado' has everything one desires for. This 1500 Crew Cab assures comfortable ride as well as high payload rating. This is the latest line of full size pickup trucks from world's biggest automaker General Motors (GM).

Toyota Rav4
Toyota presented an all exclusive model this year – Toyota Rav4. This car offers 22mpg with the V6 engine. According to consumer reports, this car is the best non-hybrid SUV ever. Definitely, it is. Popular for its comfort and space, Toyota Rav4 has earned accolades over the world. The four cylinder version of this car gets 23 mpg. This car is becoming increasing popular thanks to ravishing look of the car.

Hyundai Elantra Se
Stunning and small sedan – so is Hyundai Elantra Se. What makes it popular is its good fuel economy and spacious design. Amongst the varied features of this car include standard electronic stability control. Safety is the most important feature of this car.

Jeep Renegade Concept
Renegade Jeep from Chrysler became popular at 2008 Detroit Auto Show. This jeep comes with clean-diesel series hybrid powertrain. The unusual shape of the jeep and a Bluetec diesel "range-extender" engine makes this jeep stand out amongst the other vehicles. The automotive engine is capable of giving 110mpg when used with the electric motors.