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General Motors is reporting total August 2008 sales down 20.7% from August 2007; the report had a silver lining, however, as August marked the best month for GM sales in 2008 largely due to the popular Employee Pricing for Everyone sale the automaker has been running since Aug. 20. That sale has since been extended through September 30 and expanded to include some 2009 models. Car sales rose at Chevrolet, Cadillac and Pontiac, while GM also reported a 29% increase in sales of its Lambda-based crossovers, the Saturn Outlook, GMC Acadia and Buick Enclave. Full release after the jump. More »
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Everybody knew it was coming, but the extent of the disintegration of the US automotive market came clearly into view today as automakers reported their sales figures for June. During a month when the national average price of gasoline topped an average of four bucks, what does one expect? Well — how about an 18.8% decline in sales. Fercrissakes, the Hummer brand saw a year-over-year fall of almost 60%! Un-freakin'-believable. What we have here folks is an automotive bear market — actually probably the worst bear market in the history of the industry. And like all bear markets, there are some clever companies which manage to shine even during the worst of times. Follow along as we discuss today's car industry carnage. These numbers are sourced from Automotive News as well as directly from manufacturers and are unadjusted unless otherwise noted. More »
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