With the start of a new month comes the tally of the prior month's sales. March what was projected to be the sixth straight monthly decline of more than 30 percent. So far it has not disappointed with Maserati, Ford, and Honda posting the largest declines.
Ford Motor Co. said its U.S. light-vehicle sales fell 42 percent last month. The company's fleet sales were down 50 percent, and retail demand was down 36 percent. In an interview with Automotive News, George Pipas, Ford's sales analyst, said "Consumers are still pretty pessimistic about the outlook as it relates to employment, as it relates to the economy."
Sales of the Volkswagen brand were bleak as well with a drop of 19.7 percent. Maserati sales plunged 63.2 percent and Mercedes fell 25 percent. Also, for the first time this year, Subaru posted a slight decline of 2.6 percent.
The Analysts surveyed by Automotive News are also predicting drops of more than 40 percent for GM and Chrysler. Nissan and Toyota are likely to post similar declines as well. The average percentage change is a decline of 37 percent and that average is not expected to improve much (if at all) as the rest of the brands submit their dismal results.
Source: Automotive News