Filed under: Ford Motor (F) , General Motors (GM) , Columns , Recession This is part of a weekly series about the car business. The auto industry plays an important role in the global economy, and record-high oil prices and a global slowdown have contributed to a crisis in the sector. This column will highlight some of the interesting stories that emerge as that crisis plays out. September car sales reports are due this week, and no one in the auto industry is looking forward to the monthly numbers, especially no one in Detroit. Expectations are that car sales will be lower once again. According to analysts quoted at Bloomberg , sales at General Motors (NYSE: GM ) and Ford (NYSE: F ) will be down over 20%, while sales at Chrysler will be down over 30% from last year. Japanese producers also are expected to see lower sales, with the Japanese Big Three Toyota (NYSE: TM ), Honda (NYSE: HMC ) and Nissan (NASDAQ: NSANY ) all down in the 20% range. The industry is sliding down toward the magic number of one million cars sold in the U.S. for the month. The last time fewer than a million cars were sold in a month was February 1993. Continue reading Car Biz: Dark days in Detroit and beyond Permalink | Email this | Comments ...
Anytime
Filed under: Ford Motor (F) , General Motors (GM) , Columns , Recession This is part of a weekly series about the car business. The auto industry plays an important role in the global economy, and record-high oil prices and a global slowdown have contributed to a crisis in the sector. This column will highlight some of the interesting stories that emerge as that crisis plays out. September car sales reports are due this week, and no one in the auto industry is looking forward to the monthly numbers, especially no one in Detroit. Expectations are that car sales will be lower once again. According to analysts quoted at Bloomberg , sales at General Motors (NYSE: GM ) and Ford (NYSE: F ) will be down over 20%, while sales at Chrysler will be down over 30% from last year. Japanese producers also are expected to see lower sales, with the Japanese Big Three Toyota (NYSE: TM ), Honda (NYSE: HMC ) and Nissan (NASDAQ: NSANY ) all down in the 20% range. The industry is sliding down toward the magic number of one million cars sold in the U.S. for the month. The last time fewer than a million cars were sold in a month was February 1993. Continue reading Car Biz: Dark days in Detroit and beyond Permalink | Email this | Comments ...