Car Sales Numbers Confirms That U.S. Contraction Is Accelerating
GM: -53% (-49%)
Ford: -48% (-40%)
Chrysler: -44% (-55%)
Toyota: -40% (-32%)
Honda: -38% (-28%)
Nissan: -37% (-30%)
German auto makers and Korean Hyundai continues to take market share from the U.S. and Japanese auto makers with BMW sales declining 35%, Daimler (Mercedes)sales declining 21% and Volkswagen sales declining 19% and Hyundai sales declining just 1.5%.
While the fact that February 2009 had one day fewer than February 2008 caused a slight downward bias in these numbers, this still confirms the view that the U.S. contraction is accelerating in pace.