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Study Confirms Auto Sales Are The Lowest Since 1994
New-vehicle sales in 2008 are expected to reach their lowest levels since 1994, dropping to 14.95 million cars and light trucks, according to J.D. Power and Associates. New-vehicle sales for 2008 were originally forecasted at 15.7 million units.

“While the automotive industry’s slow performance in January and February certainly contributes to the anticipated drop in new-vehicle sales, declining consumer confidence and spending, as well as turbulent financial and economic market conditions, are primarily driving the decline,” said Jeff Schuster, executive director of automotive forecasting for J.D. Power and Associates.

Additionally, a weaker retail and fleet market both contributed to the overall reassessment of total new-vehicle sales for 2008. Retail sales were initially forecasted at 12.6 million units, but are now expected to decline to 12.3 million—down from 12.8 million in 2007. General economic conditions, coupled with less widespread incentives, are driving the retail decline. Fleet sales have already experienced a weaker-than-expected start in 2008, but a further decline is anticipated, as daily rental sales are not projected to return to pre-2007 levels.

“The downturn in retail sales—coupled with declines across the fleet market—also contribute to the overall reassessment of new-vehicle sales for 2008,” said Bob Schnorbus, chief economist at J.D. Power and Associates. “Unfortunately, the current economic environment is fraught with uncertainty and risk, with the financial crisis, worsening oil prices, and weak housing and stock markets steadily impacting other sectors of the economy. As such, our revised forecast is better positioned to reflect the challenges automakers will face in the months ahead.”

In the first quarter of 2008, sales are expected to average 15.2 million units, with sales in the second quarter falling to approximately 14.8 million units before beginning a slow rebound during the second half of the year and into 2009.


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Study Confirms Auto Sales Are The Lowest Since 1994



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07G35J07G35J - 3/18/2008 2:47:01 PM
+7 BoostDrop the Boost Up the Boost
You've got that right. Thanks Bush!!!!

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EL34EL34 - 3/18/2008 7:20:16 PM
-3 BoostDrop the Boost Up the Boost
What does President Bush have to do with buying a home or a car :-?

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silver1silver1 - 3/18/2008 7:53:35 PM
+3 BoostDrop the Boost Up the Boost
Your not dumb. You know excatly what he meant....

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randy33randy33 - 3/18/2008 9:28:11 PM
-3 BoostDrop the Boost Up the Boost
"President Bush" has nothing to do with this, ignore that stupid troll.

The problem is the managers in the auto industry itself. These people have demonstrated a blatant disrespect for their value-conscious and low-income buyers.

• Prices are SKY HIGH.
• Fuel efficiency is PATHETIC.
• Design and innovation are STAGNANT.

Is this news to car buyers? NO! So what is wrong with these automakers? Are they just retarded? Why is it so impossible for them to make great looking car that costs $20,000 and gets 90 mpg?

Over and over we demand value AND design in the economy segment, and instead we get NEITHER.

For example, ten weeks ago the lease ended on my 2005 Volvo S40 T5. Six weeks prior, I called my salesman up and said, 'I love my Volvo. I love your dealership. Just lease me a C30 at the same money factor and I'll be happy.' Oh no, the Volvo dealership just couldn't do it. Too bad for them. Time was short and I had to move on, so I looked around to see what else was available.

• The (ugly) $25,000 Malibu
• The $23,000 Mustang
• The $28,000 Accord Coupe!
• The (ugly, boring, stale) $25,000 Prius!
• The $25,000 Saturn Sky!
• The $26,000 Toyota FJ!

LOL! I'm not paying those prices on those cars! Forget it! Why? BECAUSE I DON'T HAVE TO. In fact, I'll have more self respect if I DON'T.

In my case, I went and bought a used chevy instead. Found one with less than 50,000 miles for $800; yes, they're rare but available. Invested $1800 in restoration... and BINGO! An immaculate, one-of-a-kind, and subsequently FREE chevy that looks perfect, drives great, and gets 34 mpg!

In fact, I enjoy my FREE chevy so much, I could run a similar procedure every three years for the rest of my life. But I'll make you a bargain, Volvo. I'll set up a $150 automatic deposit into a savings account recurring every month for the next three years. In 2011, if you have a car that gets 90 mpg and costs less than $20,000, I'll hand over my deposit.

If you're still around, that is.


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carnutscarnuts - 3/19/2008 1:45:26 AM
0 BoostDrop the Boost Up the Boost
07G35J,

No you can than Allen Greenspan.

That idiot F'd everything up.

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07G35J07G35J - 3/19/2008 11:27:04 AM
0 BoostDrop the Boost Up the Boost
EL34: "What does President Bush have to do with buying a home or a car :-?"
randy33: "President Bush" has nothing to do with this, ignore that stupid troll."

It must be nice in that little bubble you both live because out here in the real world, our great President Bush rules only the world's most powerful and least respected (again, thanks to him)country. As long as that A#%HOLE is in the White House, we'll still be struggling. Now he wants to fix the economy with a $600 check in June, like that's going to make 8 years of bad decisions and lies disappear. He's only worried about one thing, and one thing only: Oil money. He doesn't give a F$&k about the rest, let alone the american people. By the the way, randy33, thanks for the "stupid troll" description of me. That only shows how mature and intelligent you are, and your story about your "free Chevy" confirms it even more.


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pushrod27pushrod27 - 3/18/2008 2:47:43 PM
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makes sense. just about everyone in america has a car already. the market is very mature. you have to make a pretty compelling product to get a sale these days. there is no growth in cars and cell phones for the American consumer market.

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sold2earlysold2early - 3/18/2008 2:52:27 PM
+4 BoostDrop the Boost Up the Boost
It warms my heart to know that the dealers are starving for business.

Mental note to self: If I buy a car this year, be a total a$$hole to the salesman. (Even more than usual)

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golfer38golfer38 - 3/18/2008 3:55:46 PMView My AgentSpace
+1 BoostDrop the Boost Up the Boost
Did you have some kind of horrible experience with a salesman lately?


chilipalmerchilipalmer - 3/18/2008 4:59:31 PMView My AgentSpace
+4 BoostDrop the Boost Up the Boost
So let me get this straight- you're going to buy a car-therefore giving him a commission.

You sure showed him.

I bet he wont make the mistake of letting some blowhard pound on his chest for a couple of hours ending in his getting a paycheck ever again.


golfer38golfer38 - 3/19/2008 11:21:18 AMView My AgentSpace
+1 BoostDrop the Boost Up the Boost
So your saying your asshole normally...ok?


topneurotopneuro - 3/18/2008 3:00:28 PM
0 BoostDrop the Boost Up the Boost
Now it is the best time to buy a car if you have the $$$.
But with the plummeting “American peso” a good deal on foreign car may be difficult.
Inventory is already piling up in cars in all dealers, may wait for the late spring or early summer is it going to turn really ugly for dealers.


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kthorkthor - 3/18/2008 4:51:04 PM
-3 BoostDrop the Boost Up the Boost
bulldogz: Very classy. I imagine they blow you off because you broadcast your petty mentality loud and clear.


EL34EL34 - 3/18/2008 7:23:07 PM
-5 BoostDrop the Boost Up the Boost
bulldogz, when yo go to a BMW dealer do you wear your Toyota Paseo t-shirt?

You do, dont you?


carnutscarnuts - 3/19/2008 1:46:31 AM
+1 BoostDrop the Boost Up the Boost
^^^

LOL


BMW4me4everBMW4me4ever - 3/18/2008 5:30:01 PMView My AgentSpace
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believe me we can spot a person like bulldogz coming from a mile away. Even though business is tough, I have been with BMW for almost 13 years and have a steady client base that dont have to put up with someone of that nature. It is bad now, but after 09/11 it was much worse for a few years.

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M35MTM35MT - 3/19/2008 8:13:12 AMView My AgentSpace
+3 BoostDrop the Boost Up the Boost
Cars are lasting much longer these days. Baby boomers are retiring.

There are hundreds of reasons...

As far as the economy goes...let's hope the Fed stops this 'high class wall st. welfare' and lets the free market run its course. Although I did admire their trickery reducing the rate cut to only 75 bps...we still rallied!

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xlr8xlr8 - 3/19/2008 11:04:49 AM
+2 BoostDrop the Boost Up the Boost
well the economy is tanking, and prices for cars are straight retarded...come on 20k for a civic WTF!!!

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bocabimmerbocabimmer - 3/19/2008 10:54:13 PM
+2 BoostDrop the Boost Up the Boost
er should keep politics out of the car sites, please give me a break, if you hate the current govt, talk about it somewhere else!

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