Auto Makers Take A Record Hit In August….Worst Since The Early 1980’s
Posted By thestatedtruth.com on September 1, 2010
This looks like the worst sales performance since the early 1980’s………If autos looked this bad then one would asume that housing should fare no better as consumers still have too much debt…..Here is a quote from Toyota, “We are bracing ourselves for the coming crisis.”.  Â
Toyota Motor Corp., General Motors Co. and Ford Motor Co., the world’s three largest automakers, reported sales declines that exceeded analysts’ projections as the U.S. auto industry headed for its worst August in 28 years.
GM said deliveries fell 25 % and Toyota, the world’s largest automaker, reported a 34 % drop and Ford sales fell 11 %. Chrysler sales rose 7 %. Honda Motor Co. sales were down 33% and Nissan Motor Co.’s sales were down 27%.
Fleets may have accounted for 20 percent of the industry’s August deliveries.
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