June Sales Pace Falls To Even Lower Levels

June is shaping up to be one of the worst months in recent memory for auto sales, with consumers steering clear of large gas-guzzlers and automakers running low on supplies of small, fuel-efficient models that are in demand.

After an unexpectedly weak start to the month, several auto analysts and forecasters predicted a huge drop Wednesday in the annualized selling rate for June to as low as 12.5 million vehicles.

That's a figure that would have been unthinkable just a few months ago. The last time annual car and truck sales came in below 13 million was in 1992.

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Porschinator - 6/19/2008 4:04:35 PM

+3 Boost

No one can afford to fuel cars let alone buy them...lol.

0to60 - 6/19/2008 5:30:01 PM

-1 Boost

lol?

MattB - 6/19/2008 10:12:17 PM

+4 Boost

There's nothing really funny about it.

0to60 - 6/20/2008 1:58:32 PM

0 Boost

That was my point, hence the ? after lol...

randy33 - 6/19/2008 11:43:36 PM

+2 Boost

Sell something worth buying, I'll give you my money.

Otherwise, take your 28,000 HONDA ACCORD and ***** **

DieselRules - 6/20/2008 2:14:46 AM

+3 Boost

Car sales are down, but motorcycle and especially scooter sales are up.
I just bought a Yamaha Majesty 400 Mega-scooter today (the Ford Excursion of scooters, except it gets 75 MPG) to replace my twin-turbo A6 for commuting.
I couldn't buy a Suzuki Burgman 400, because the dealer said that Western Canada is totally sold out of Suzuki scooters for the year!

Designer1 - 6/21/2008 6:55:25 AM

+1 Boost

The fuel prices are truly driving me crazy and no one is doing anything about it. You only read and hear about it, and the price keeps going up day by day.

ChicaneShooter - 6/21/2008 9:28:45 AM

+1 Boost

i was curious about how much USED car sales dropped. and came across this from the detnews.com

CarMax stock falls as profits drop by 55%
CarMax Inc . fell the most in nine months in trading in New York as the biggest U.S. used-car retailer posted a 55 percent decline in first-quarter profit, more than analysts estimated. The shares dropped as much as 14 percent after CarMax said net income decreased to $29.6 million. Income at the company's finance unit plunged 74 percent as borrowing costs soared. Sales rose 3 percent to $2.21 billion, the Richmond, Va.-based company said. "The weak economy, the dramatic rise in gasoline and food costs and the related impact on consumer spending adversely affected our first-quarter performance," said CEO officer Tom Folliard during a conference call Wednesday.

Detroit News staff, wire and Bloomberg News reports.

ChicaneShooter - 6/21/2008 9:34:08 AM

+1 Boost

their sales did increase by 3%.

but profits plummeted 55%!!!

they musta done a lot of price slashing to keep the iron moving. and at that, maybe financed more marginal buyers.

the finance unit profits dropped 74%!

(down the road, will there be an automotive 'sub-prime' crash???)