Sinking Car Sales May Be on the Rebound

Today's figures 'as low as it's going to get': analyst

By Matt Cantor, Newser Staff

Posted Apr 1, 2009 7:58 AM CDT

(Newser) – Figures to be released today are likely to show a third straight month of annualized new-car sales below 10 million, the Wall Street Journal reports—but there’s a chance those numbers have hit bottom. Considering the size of the American consumer market, today’s figure “is about as low as it's going to get,” says an analyst.

Monthly new-car sales over the past decade shook out to around 16 million yearly, but it’s unlikely we’ll soon reach those levels again, says an economist. “If you reason there was a bubble in housing, then there was some degree of bubble in durable consumption,” he says. “When the economy recovers, we will be above nine million, but we may not be up near 16 million again for a long time."

In this Sunday, Dec. 7, 2008 file photo, a GM sign sits in front of a long line of unsold 2009 Escalades at a Cadillac dealership in the southeast Denver suburb of Lone Tree, Colo. (AP Photo/David Zalubowski)

Snow builds up on the company logo on the chromed grille of an unsold 2008 Edge crossover vehicle at a Ford dealership in Denver on Sunday, Jan. 4, 2009. (AP Photo/David Zalubowski)

A clearance sign hangs next to a small lot filled with unsold 2008 Jeep Liberty sports-utility vehicles and a Chrysler 300 sedan at a Chrysler-Jeep dealership in Golden, Colo. (AP Photo/David Zalubowski)

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Sinking Car Sales May Be on the Rebound

Today's figures 'as low as it's going to get': analyst

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The automakers have agreed to an alliance, but only if Chrysler gets another loan

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Sinking Car Sales May Be on the Rebound

Today's figures 'as low as it's going to get': analyst

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OTHER STORIES ON OUR RADAR

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More Newser Stories

Ford Sales, Off 34%, Key Ugly US Autos Report

Nissan down 37%; Toyota sees 32% drop; GM fares better, but still 16% lower

Auto Team: Chrysler Needs Bankruptcy, Fiat Deal

Administration offers 30 days more working capital before aid dries up

Obama Auto Team in Detroit Considering $22B More in Aid

GM and Chrysler, both facing collapse, woo more taxpayer dollars

Chrysler Needs $3B From Feds to Lock Deal With Fiat

The automakers have agreed to an alliance, but only if Chrysler gets another loan

GM Finance Arm Converts, Will Tap Bailout

Fed approves GMAC's request to become bank-holding company

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