Used car salesman
May was a great month for Ford and General Motors: their sales were down 24.2% and 29.6% from 2008, respectively. Welcome to the new economy.
As awful as those figures sound, both were expected to ring in much lower. And since U.S. sales were down about 37% across the board, that makes Ford and GM industry leaders. Again: brave new world.
However, there is a bit of room for cautious optimism: May marked a high point for Ford and GM, and both automakers saw their best sales stats for 2009. For example, GM sold about 19,000 more vehicles in May than it did in April, representing an 11% jump. No one's saying that the industry is fully on the rebound, but things may have leveled out a bit. We'll take encouragement where we can find it.
By the way, if you're wondering how other major automakers fared last month, here's a year-over-year breakdown:
- Ford: down 24.2% from 2008
- General Motors: down 29.6% from 2008
- Nissan: down 33% from 2008
- Honda: down 41% from 2008
- Toyota: down 41% from 2008
- Chrysler: down 47% from 2008
- Seasonally adjusted annualized sales before 2008: 17 million
- Seasonally adjusted annualized sales in 2009: 9.91 million
Keep those chins up!