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SANTA MONICA, Calif. - The deteriorating economy, the precarious employment situation and the lack of available credit will push the annual sales rate in December for U.S. car sales to their lowest level of the year below 10 million units, Edmunds.com forecasts.
December sales (retail and fleet) are expected to total 852,000 units, a 38.4 percent decrease from December 2007 but a 14.6 percent increase from November, Edmunds.com predicts. Typically, December sales are about 18 percent higher than November's.
With the year closing on a low note, U.S. vehicle sales for all of 2008 will total just over 13 million, a decrease of almost three million vehicles, or 18 percent, from 2007. Automakers report December and 2008 sales figures Jan. 5, 2009.
"Despite the unit sales increase from November, December's expected 9.8 million SAAR will be the lowest of the year," said Jesse Toprak, Edmunds.com's executive director of Industry Analysis. "As questions about the economy remain unanswered, many consumers are reluctant to respond to the incredibly generous deals available on new cars."
Edmunds.com analysts predict that for the first time in nine months, trucks will outsell cars. Despite all the public discussion of fuel efficiency, SUVs and trucks are the industry's biggest sellers right now as a remarkable number of buyers seem to be compelled by three factors: great deals, low gas prices and winter weather.
Conversely, Toyota has slowed production of the Prius for lack of interest and a growing inventory of the once-popular hybrid.
Company By Company
The combined monthly U.S. market share for Chrysler, Ford and General Motors domestic nameplates is estimated to be 51 percent in December 2008, down from 51.9 percent in December 2007 and up from 48.2 percent in November 2008.
Edmunds.com predicts the following sales by company:
Chrysler will sell 104,000 units in December, down 45.6 percent compared to December 2007 and up 22.4 percent from November. This would result in a new car market share of 12.2 percent for Chrysler in December 2008, down from 13.8 percent in December 2007 and up from 11.4 percent in November 2008.
Ford will sell 137,000 units in December, down 33.8 percent compared to December 2007 and up 13.5 percent from November. This would result in a new car market share of 16.0 percent of new car sales in December for Ford, up from 14.9 percent in December 2007 and down from 16.2 percent in November.
GM will sell 194,000 units in December, down 39.3 percent compared to December 2007 and up 26.6 percent from November. GM's market share is expected to be 22.8 percent of new vehicle sales in December, down from 23.1 percent in December 2007 and up from 20.6 percent in November.
Honda will sell 82,000 units in December, down 37.7 percent from December 2007 and up 7.7 percent from November. Honda's market share is expected to be 9.6 percent in December, up from 9.5 percent in December 2007 and down from 10.3 percent in November.
Nissan will sell 52,000 units in December, down 42.1 percent from December 2007 and up 11.2 percent from November. Nissan's market share is expected to be 6.1 percent in December, down from 6.5 percent in December 2007 and down from 6.3 percent in November.
Toyota will sell 137,000 units in December, down 38.8 percent from December 2007 and up 5.4 percent from November. Toyota's market share is expected to be 16.1 percent in December, down from 16.2 percent in December 2007 and down from 17.5 percent in November.
December 2008 had 26 selling days, the same as last December 2007 and one more than November 2008.
Source + Chart: December Sales Rate Will Be Year's Lowest, Edmunds.com Forecasts - Auto Observer
Interesting. Lets see how close they are when the actual numbers are released.
M
December sales (retail and fleet) are expected to total 852,000 units, a 38.4 percent decrease from December 2007 but a 14.6 percent increase from November, Edmunds.com predicts. Typically, December sales are about 18 percent higher than November's.
With the year closing on a low note, U.S. vehicle sales for all of 2008 will total just over 13 million, a decrease of almost three million vehicles, or 18 percent, from 2007. Automakers report December and 2008 sales figures Jan. 5, 2009.
"Despite the unit sales increase from November, December's expected 9.8 million SAAR will be the lowest of the year," said Jesse Toprak, Edmunds.com's executive director of Industry Analysis. "As questions about the economy remain unanswered, many consumers are reluctant to respond to the incredibly generous deals available on new cars."
Edmunds.com analysts predict that for the first time in nine months, trucks will outsell cars. Despite all the public discussion of fuel efficiency, SUVs and trucks are the industry's biggest sellers right now as a remarkable number of buyers seem to be compelled by three factors: great deals, low gas prices and winter weather.
Conversely, Toyota has slowed production of the Prius for lack of interest and a growing inventory of the once-popular hybrid.
Company By Company
The combined monthly U.S. market share for Chrysler, Ford and General Motors domestic nameplates is estimated to be 51 percent in December 2008, down from 51.9 percent in December 2007 and up from 48.2 percent in November 2008.
Edmunds.com predicts the following sales by company:
Chrysler will sell 104,000 units in December, down 45.6 percent compared to December 2007 and up 22.4 percent from November. This would result in a new car market share of 12.2 percent for Chrysler in December 2008, down from 13.8 percent in December 2007 and up from 11.4 percent in November 2008.
Ford will sell 137,000 units in December, down 33.8 percent compared to December 2007 and up 13.5 percent from November. This would result in a new car market share of 16.0 percent of new car sales in December for Ford, up from 14.9 percent in December 2007 and down from 16.2 percent in November.
GM will sell 194,000 units in December, down 39.3 percent compared to December 2007 and up 26.6 percent from November. GM's market share is expected to be 22.8 percent of new vehicle sales in December, down from 23.1 percent in December 2007 and up from 20.6 percent in November.
Honda will sell 82,000 units in December, down 37.7 percent from December 2007 and up 7.7 percent from November. Honda's market share is expected to be 9.6 percent in December, up from 9.5 percent in December 2007 and down from 10.3 percent in November.
Nissan will sell 52,000 units in December, down 42.1 percent from December 2007 and up 11.2 percent from November. Nissan's market share is expected to be 6.1 percent in December, down from 6.5 percent in December 2007 and down from 6.3 percent in November.
Toyota will sell 137,000 units in December, down 38.8 percent from December 2007 and up 5.4 percent from November. Toyota's market share is expected to be 16.1 percent in December, down from 16.2 percent in December 2007 and down from 17.5 percent in November.
December 2008 had 26 selling days, the same as last December 2007 and one more than November 2008.
Source + Chart: December Sales Rate Will Be Year's Lowest, Edmunds.com Forecasts - Auto Observer
Interesting. Lets see how close they are when the actual numbers are released.
M
