If You Think September Car Sales Were Bad October May Be Worse!

Deepening concerns about the economy and tight credit dried up demand for cars and trucks in early October, leading some forecasters to predict a drop in the monthly selling pace to the lowest level in more than 20 years.

"We're seeing a real weak month," said Jim Farley, Ford Motor Co.'s head of sales and marketing. He told reporters that the government's initiatives to stabilize the banking system made him more optimistic but that he hadn't seen any tangible effect from the rescue effort on auto sales.

Several analysts said the government's move to inject $250 billion into banks to pump more credit into the system would benefit the economy. But they said it would take time to restore the confidence of consumers alarmed by plunging financial markets and mounting job losses.

 

golfer38 - 10/15/2008 4:12:52 PM

+2 Boost

What a shocker, another doom and gloom caption from donut, donut 9.

Agent009 - 10/15/2008 4:23:29 PM

+4 Boost

take a look around and find me some really good news, I'll gladly post it.

veyron1001 - 10/15/2008 7:45:11 PM

-2 Boost

I would assume they are talking about Ford, GM and Chrysler.

0to60 - 10/15/2008 10:43:26 PM

+4 Boost

And BMW, Nissan, Toyota, Honda, MB, Mitsubishi (do we ever get news of their profits or lack there of?, Lexus, Acura, VW, etc...

Agent009 - 10/16/2008 8:40:07 AM

+1 Boost

0-60 I have been looking for those results but as of yet they have not been made public.

Agent009 - 10/16/2008 8:41:35 AM

+1 Boost

0-60 We did post global sales for VW group, BMW, and Merc for the year.

0to60 - 10/16/2008 10:57:33 AM

+2 Boost

I was just speaking of Mitsubishi. Thanks!

0to60 - 10/15/2008 10:44:06 PM

+2 Boost

Tough economic times. At least when it is over, we will have another 20 or so years before we have to experience the repeating cycle again.

Threepoint1415926 - 10/15/2008 11:33:33 PM

+3 Boost

10-15 years from now we can all get rich again, like the late 90's!

Chaos29 - 10/16/2008 7:30:21 PM

+2 Boost

expect a very very very very very very very longggggg downturn.