Aug 3, 2009 10:54:41 PM
- Ron (Houston)
- Rennteam Moderator
- Loc: Houston, TX , United States
- Posts: 8812, Gallery
- Registered on: Apr 10, 2002
Aug 3, 2009 10:54:41 PM
Aug 4, 2009 1:31:37 AM
Wow, That is a stunningly bad report. I am surprised. All the negatives are in comparison to an already weak crisis mode, high gas price July 08.
And the govt. "CASH for Clunkers" program accounted for 222,000 vehicle sales in the last week of the month. 1,000,000,000 / 4,500. It ran out of money in that 1 week.
So take away a good portion of 200,000 cars and sales would be even worse.
Ford is up and GM and Chrysler are down, which proves that the taint of Bankruptcy does have an effect. All i can say is that the consumer was not spending in July.