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Discussion Starter #1
October 2nd, 2008

Let’s start the report with some good news: Chrysler regained the No. 4 spot in sales last month. Not just for the month, but in year-to-date (YTD) sales, as well. Chrysler outsold Honda by over 10,000 units in September, giving it a slim, 2,936-unit lead for the first nine months of 2008. Some more good news is the Dodge Caravan took the top spot in the minivan segment for the month, though the Odyssey still holds the lead for the year. The Chrysler Town & Country lost to the Toyota Sienna in September but leads it in YTD sales.
Another piece of relatively good news is that Chrysler did beat the analysts’ estimates. Instead of a 34 percent drop, compared to September 2007, sales were down just 32.8 percent. Sounds like no big deal until you see how the predictions fared with the other automakers. The sort-of-good news continues with the fact Chrysler did not post the largest drop of the Big Six automakers; that honor goes to Nissan, where sales were down 36.8 percent last month. In fact, Chrysler’s drop was only a half-percent more than Toyota’s. Chrysler also beat Ford, where sales plunged 34.6. Chrysler even came out ahead of Ford’s domestic brand sales which dropped 33.7 percent.

Sales of the new Dodge Journey had their best month since June, an encouraging sign.

Still, total Chrysler sales were down, led by a 42.8 percent slump in sales of Jeep vehicles. YTD sales are now 25 percent behind the first nine months of 2007 which is the largest deficit among the Big Six.


More, Article Link:
http://www.allpar.com/news/index.php
 

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Super Moderator
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Toyota Joins The Discount Fray

10.03.08

You know the outlook is bleak for the auto industry when Toyota jumps into the inventory clearance game that Detroit has monopolized for the past couple of years.

Just a short time ago, industry powerhouse Toyota (nyse: TM - news - people ) was gobbling up market share by charging close to full price while truck-heavy General Motors (nyse: GM - news - people ), Chrysler and Ford (nyse: F - news - people )were stuck bribing buyers with heavy discounts. Industry analysts harped on the reputations of Toyota and, to a lesser degree, its Japanese counterparts Honda (nyse: HMC - news - people ) and Nissan (nasdaq: NSANY - news - people ), for reliability and fuel efficiency. Consumers didn't need big incentives to visit their showrooms and drive out with a car.

But with the economy slowing down, consumer confidence dropping and credit for auto loans tight, suddenly everyone needs to give away cars.

Toyota announced Friday that it will begin offering 0% financing for 11 models this month, some for up to 60 months. And it's not just on the company's big trucks and SUVs like the 4Runner, Tacoma and Tundra. The popular and fuel-efficient Camry and Corolla are being cleared out on the cheap, too.


MORE Here:Toyota Joins The Discount Fray - Forbes.com
 
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