US Auto Sales Could Nosedive In August!
Fred Clay Automotive manufacturers are slated to report heavy declines in the month of August, the WSJ reports based on a study by JD Power. Even though, the industry has induced incentives to encourage sales but the forecast for the month is expected to be discouraging. Estimates reveal that the sales would decline to about 1.21 million vehicles. And as per the seasonally adjusted annual rate the estimated figure is 13.4 million vehicles, which is a good 2.8 percent down from August 2007 figure of 16.2 million vehicles. However it's still an improvement of 6.3 percent from July. There's the expectation that the sales would pick up the month comes to a close. The reason is attributed to GM's 100th anniversary sales event, which means that many of its products would be up for sale at the proverbial "employee pricing." Only last month GM reported a 27 percent drop in sales, making it the lowest in the past 16 years. Hardly any of the major auto manufacturers were spared from the clout of declining sales during the first two weeks of August. At the same time the figures of the Nissan Motor Co. were better than the rest of the manufacturers. Meanwhile auto part makers can't let their mind off the skyrocketing gas prices and economic downturn, which are for the most part responsible for the has led to the current fiasco. As the downturn is expected to continue for some time to come, and with the gas prices staying high, it seems that the UK and German consumers covet hybrids, as a recent study had revealed. About the Author
Fred is a journalist with 7 years of experience. Though, as a professional he's reported on myriad topics, his favorites are the auto and the healthcare industry. Two of the platforms he's previously worked on are Themedica and Automotive-Online. He now blogs at: Automobile Hotspot and Smiling Health. Click here to view more articles by Fred Clay. Reprinted with Permission from IdeaMarketers.com
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