Monday, November 3, 2008
Oct's auto sales in Oct was the worst since WII
Auto makers sold 838,186 cars and light trucks last month, according to a tally by Autodata Corp. General Motors Corp. said it was the worst October in 25 years. When adjusted for increases in the U.S. population, last month was "the worst month in the post-World War II era," Michael DiGiovanni, GM's top sales analyst, said in a conference call. A closely watched industry figure, the seasonally adjusted annualized selling rate, was 10.6 million vehicles, compared with 16 million a year earlier, according to Autodata. What's Moving: U.S. Auto SalesFord sales analyst George Pipas said the current sales trend could pull total 2008 sales below 14 million cars and trucks. At the beginning of the year many car companies had expected sales of roughly 15 million vehicles, already below the 16 million annual figure considered to be healthy.