Retail Sales To Be 2 Million Lower in 2008. - Dodge Nitro Forum
Chrysler/Dodge/Jeep News Find out the latest scoop here!

LinkBack Thread Tools Display Modes
post #1 of 1 (permalink) Old 10-08-2008, 02:46 PM Thread Starter
Super Moderator
rickaren's Avatar
Join Date: Nov 2006
Location: Indiana
Posts: 22,847
Retail Sales To Be 2 Million Lower in 2008.

October 08, 2008

Las Vegas—Research firm J.D. Power and Associates [a unit of BusinessWeek parent McGraw-Hill] has revised its forecast for 2008 retail sales downward to 10.8 million units.

That number removes fleet sales to government and rental fleets from the mix.

That is a substantial downturn from 12.8 million retail sales in 2007, as well as being significantly down from the 12.3 million Power forecasted last March and the 12.6 million forecasted in January.
For perspective, it took the auto industry seven yeas, between 2000 and 2007 for retail sales to decline 2 million units—from 14.8 million to 12.8 million. The current economic meltdown has created the same slide in just one year.

J.D. Power senior vice president Gary Dilts said the current sales environment for auto companies and dealers reminds him of Sept. 12, 2001, the day after the terrorist attacks, when “business just stopped.”

Dilts, a former Chrysler sales executive, said he has spoken with Chrysler dealers, for example, who could only close half the people who applied for loans in September because of the lack of credit. “That’s not just happening at Chrysler,” said Dilts.

Power’s analysis shows the remarkable loss of revenue and profit hitting automakers as sales decline across the board and many former truck and SUV buyers shift to compact and mid-sized cars.

According to Power, the industry has lost $15.5 billion in sales from a decline in mid-sized SUVs, $15 billion from the decline in pickup trucks, wile it has only increased revenues from selling more compact cars by $5 billion and $4.3 billion from a slight increase in mid-sized cars.

In mid-day trading, Ford shares were at $2.67 and GM was at $7.15.

LINK:J.D. Power: Retail Sales To Be 2 Million Lower in 2008. - BusinessWeek


Nitro Year: 2007 (1 of 91,815 sold in 07)
Nitro Model: R/T 4X4 Stone White
CAT-BACK Exhaust, CAI, Projector Head Lamps
Fully-Equipped w/all factory options
rickaren is online now  
Sponsored Links

  Dodge Nitro Forum > Dodge Nitro News & Polls > Chrysler/Dodge/Jeep News

Quick Reply

Register Now

In order to be able to post messages on the Dodge Nitro Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Please enter a password for your user account. Note that passwords are case-sensitive.


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode

Similar Threads
Thread Thread Starter Forum Replies Last Post
Chrysler Canada Announces September 2008 Sales rickaren Chrysler/Dodge/Jeep News 1 10-01-2008 10:30 PM
Chrysler LLC Reports September 2008 U.S. Sales rickaren Chrysler/Dodge/Jeep News 0 10-01-2008 04:57 PM
Chrysler International Established Record as Sales Increased Four Percent in First Ha rickaren Chrysler/Dodge/Jeep News 0 07-05-2008 05:27 PM
Chrysler LLC March 2008 Sales PR rickaren Chrysler/Dodge/Jeep News 0 04-01-2008 02:44 PM
Total Chrysler LLC December 2007 Sales Up 1 Percent rickaren Chrysler/Dodge/Jeep News 0 01-03-2008 02:07 PM

Posting Rules  
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

For the best viewing experience please update your browser to Google Chrome