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Ford, Toyota, GM Sales Plunge More Than 30% on Month

 
     

    Auto sales data for the month of December and for 2008 were reported on Monday -- with dismal results, as predicted, not just from the Big Three Detroit auto makers, but from non-U.S. car makers as well.

    Dearborn, Mich.-based Ford Motor (F) was the first to report sales, with December sales down 32.4% year over year. For 2008, Ford was down 21% compared with last year’s results. Ford sold 138,458 light vehicles in the U.S. last month, down from 204,787 in December 2007. For 2008, Ford sold 2 million cars, down by about 500,000 from the year prior.

    At Toyota Motor (TM), results were even worse. December sales were down 37%, while sales for the full year were down 16%.

    At General Motors (GM), sales were down 31% for December. For 2008 overall, sales were down 23% from the prior year. For GM’s Chevrolet division, sales were down 25.8% since December of last year. In December of 2007, 185,626 Chevrolets were sold, while only 137,691 in December of 2008.

    Chrysler’s report was the most dismal, with a decline of 53% in December from the same period a year prior.

    Subaru’s U.S. division, which is based in Cherry Hill, N.J., was the bright spot -- reporting a gain of 0.3% for 2008 overall. However, Subaru’s sales were down 7.7% for the month of December. Subaru’s lack of losses is due in large part to its lack of overall penetration into the U.S. marketplace -- it sold fewer than 200,000 cars in the U.S. last year. Subaru itself is based in Japan.

    Sales at Volkswagen also took a hit of 14.4% in December and 3.2% for the year ended 2008. Also, Honda’s year was down by a total of 8.2% at $1.43 million, and down 35% for December. Honda sold 86,085 cars last month.

    At Nissan Motor, (NSANY), 2008 sales fell by 11% to 951,350. The company experienced a 31% decline for the month of December, with 62,102 vehicles sold. This compares to 89,555 vehicles sold in December of 2007.

     

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    Trade Deficit

    Everyone would agree that they see more "Made in Taiwan/China/Japan/etc" tags than "Made in the USA" tags for the past several years...