August Auto Sales Numbers Just A Fluke, Now We Have To Find A Bottom

One year ago, annualized auto sales data, SAAR, seemed hopeful going into September. Then, all hell broke loose. Sales continued to crater, the auto manufacturer’s outlook became bleak and sure enough the bankruptcies came.

I hate to say "I told you so," but I did.

With a disaster on its hands, the current administration stepped up to the plate to offer an incentive program, similar to Germany's, in order to boost the auto sector. Thankfully, it worked.....
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theman440 - 9/10/2009 12:55:56 AM

+1 Boost

You hit the nail on the head.

Agent00R - 9/10/2009 1:54:12 AM

+1 Boost

Although you make an excellent point, I am not sure that was so apparent because the economic downturn was already being felt. Granted, there are a portion of individuals who are to blame for their reckless fiscal habits.

I am confident last year's numbers, which popped, was due to year end inventory liquidations and huge discounts on large vehicles that dealers were able to move after oil reversed -- from its highs -- in July.

Passing through midwest, I spotted a brand-spanking new Ford F-series for $12,000 brand new.