Tuesday, February 03, 2009

Last Silver Lining For Detroit Lost

January U.S. car sales were really ugly:

Chrysler: -55%
General Motors: -49%
Ford: -40%
Toyota: -32%
Nissan: -30%
Honda: -28%

As a result of this, overall sales may have fallen below 10 million at an annual rate for the first time in several decades. Korean car maker Hyundai was the only one gaining. And while overall car sales appears to be falling as fast as in recent months, Detroit has lost its one silver lining, that their loss of market share was halted. Now it appears that they're losing market share in a rapidly contracting market, which is really bad.


Anonymous Per Nilsson said...

That's some really terrifying numbers. It's _really_ hard to borrow GM shares for short-selling now (someone told me that the annual interest rate is ~50% ... that's pretty extreme).

I just got the news that Subaru gained +8% though (well, only because of their mid-size SUV).

11:40 PM  

Post a Comment

<< Home