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Automotive makers see worst sales year in 30 years

2010-01-06 01:10:33 (GMT) (Caymanmama.com - Automotive News)

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Houston, Texas (CaymanMama.com) — Many of the world’s most prominent automakers are bidding good riddance to 2009 as the past year was the worst for American sales in almost 30 years.

Ford Motor Co., Chrysler Group LLC, General Motors Co., Honda Motor Co. Nissan Motor Co., and Toyota Motor Corp. experienced a drastic fall in sales for 2009, , but all reported a more positive jump start for 2010.

The majority of Americans had the hardest year in their lives as well, having suffered through the beginning of the credit crises and causing consumer confidence to fall and unemployment to rise.

According to the AP, “Sales of smaller, cheaper vehicles, however, helped drive gains for some manufacturers. Hyundai continued its surge with an 8-percent yearly gain, while its low-cost Kia brand reported 2009 sales gains of nearly 10 percent and a 44-percent gain in December.”

Japanese automotive giant Subaru reported a 15 percent sales increase for the year, but still said 2009 was an “unqualified success.”

GM and Chrysler struggled to stay alive, having both gone through a highly publicized bankruptcy proceeding but in the end, sustaining with government bailout funds.

Ford Motor Co. said their auto sales declined 15 percent in 2009, but fortunately posted its first full-year gain in American market share since 1995.

From: http://www.caymanmama.com



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