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US Auto Sales Plummet in August: Post-Clunker Drops and Gains

August income, for the most element, are hurting from a 12 months ago. To be specific, initial records showed sales got here in at 997,574, down 21 percent from a year in advance, according to Autonews. After the coins-for-clunkers sales surge of '09, it became to be expected. So, after the economy's coins-injection automobile sale plan, wherein do automakers stand in comparison to August final yr?

First off, American automakers are all around the map: Ford is down 14%, Chrysler is up 7% because of fleet income, and GM fell off a hefty 25%.

Japanese automakers, however, are all down. Isuzu is long gone, so it truly is a large goose egg both way; Subaru, Mazda, and Nissan saved their drops within the 23-27% variety, at the same time as Honda, Toyota, and Mitsubishi ranged from 33% to 37%. Toyota, whilst gaining considerably from the clunkers software, turned into no longer most effective laid low with the expected drop but additionally through a variety of recalls. Of all of the automakers promoting motors in America, Suzuki simply plain got smacked; it's in freefall after a sixty eight% drop.

John Mendel, income VP for American Honda, says, "We've recognised that August comparisons might be beside the point because of the 'cash-for- clunkers' application final yr...The properly news is that we keep to peer increasing demand for Honda merchandise..."

Korean Hyundai group managed to stem the bleeding, accomplishing a Ford-like drop of handiest 15%.

The Germans all seem to be doing pretty well, with Daimler ( 7%) and Porsche ( 33%) milking gains at the same time as VW (-3%) and BMW (-2%) each stayed robust with minimized declines.

Volvo and Saab, due to their exchange in possession, have a few faulty numbers (see underneath). Other Europeans had been also strong, with Maserati, Jaguar / Land Rover every posting an impressive 25% gain.

Analysts recognize that these numbers are all around the area, and have stated multiple instances that comparing figures to a 12 months ago would no longer make sense. Therefore, they're the use of greater comparable (albeit much closer) preceding month figures to make reviews at the state of the market.

By Phil Alex

Source: Autonews (sub. Required)

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