Compared to last year, May's sales numbers were miserable. Let's face it, when a 19% drop somehow looks good, there's still a problem.
We've come to expect such misery these days, but as AutoObserver points out, there are a few glimmers of hope in May's sales numbers.
- The Seasonally Adjusted Annual Rate (SAAR) is at its highest point of the year at 9.9 million.
- Most sales numbers beat analyst's expectations.
- The stock market is up and car sales typically rise with the markets. Consumer confidence is also up.
Hard to tell if this trend will continue at this point. It could be a result of bargain hunting or a little pent up demand. Either way, it's the kind of news we need at this point given how deep taxpayers are now entrenched in the business.
AutoObserver: May Car Sales: Flirting with 10-Million SAAR
stephen987 says:
09:35 AM, 06/ 3/09
Is there hope? Sure, for Korea Inc.
carlisimo says:
09:47 AM, 06/ 3/09
Keep in mind that last May was a little odd, with the gas price spike and all. Small cars did exceptionally well and that's part of the reason Honda is down - they had record sales last year. And the Focus is down a LOT over last May, but it did unusually well that month too.
brn says:
11:01 AM, 06/ 3/09
In line with carlisimo, he domestics took a much larger hit last year. Because they're already down so much, the percentages are going to be smaller.
powell_jr says:
11:22 AM, 06/ 3/09
I wonder where Mazda is?
estreka says:
05:04 PM, 06/ 3/09
Rather than comparing it to last year, compare it to the year prior. I think you'll find less disparity there.
For instance, let's say Honda increased 5% last year over 2007. That makes a net loss of ~38% from 2007 to 2009.
Contrary, Chrysler, which was down let's say 20% this time last year from 2007 coupled with the 43% this year, makes the 2007-2009 drop about 63%. GM would probably have similar numbers. Ford has turned things around, but they aren't as well off as they appear.
stephen987 says:
06:01 AM, 06/ 4/09
Estreka, you can't just add percentages like that and get accurate results.
dg0472 says:
06:54 AM, 06/ 4/09
@powell_jr
Well are you not wondering where Subaru, Volkswagen, Suzuki, and a host of others are? Let me tell you: they're in the full story available by clicking the link. Hyundai, which represents Hyundai-Kia Automotive Group, was just added as one of the (now) Big 7 this month because they're now within a few thousand each month of Nissan. Kia now has pushed well ahead of Mazda. But there's only room for so many graphics at the head of a story.
brn says:
08:32 AM, 06/ 4/09
stephen is right about the math, but I agree with estreka conceptually. As much as I like good domestic news, you need to look at a multi-year trend.
estreka says:
12:35 PM, 06/ 4/09
I was ballparking. I wasn't trying to concoct specific figures. :-)