Monday, May 4, 2009

April's Ugly Auto Sales...

Friday's AWFUL (hey second directive is turning positive!) April auto sales broke after I was already gone (an early weekend). Money CNN with the details:

U.S. vehicle sales data released Friday delivered no signs of economic recovery despite widespread hope the beleaguered auto industry would begin to see relief in April.

The annual selling rate remained stuck in the low- to-mid 9 million vehicles, likely falling below 850,000 car and truck sales, according to early auto maker estimates. The drop represents a decline of 35% to 40% from a year ago.

"Industry wide, April felt more like a dust bowl than a spring garden for new car sales," said Jim O'Donnell, president of BMW in North America, in a statement.

Uncertainty around General Motors Corp. (GM) and Chrysler LLC, which entered bankruptcy protection on Thursday, helped drag sales down toward the month's end and erased a strong start to the month, auto makers said. Chrysler finished with a 48% decline for April.

"I thought we were going to close much better than we did," Mark LaNeve, sales chief for GM, which reported a 33% drop. "We didn't see a significant break up or down."


Source: NY Times