Automobile sales in Japan has plunged 22% in December from a year earlier to the
worst level on record for the month when demand fell to a 34-year low
(according to the Japan Automobile Dealers Association )
has lowered its 2008 forecast for U.S. new-vehicle sales by nearly 5% to the lowest level since 1994.
It says declining consumer confidence and spending, along with turbulence in the financial markets, has driven its
revised forecast to 14.95 million cars and light trucks from 15.7 million.»
« Bob Schnorbus chief economist at JD Power said the auto industry has entered a recession phase. This will
lead to major job suppression for US auto makers. »
Year 2009 could be worst in the US and Canada since consumers are worried while
facing the current financial crisis.
Sales decrease in the US for January 2009
A car dealer can react to the current financial crisis for as little as 50˘
Here is how…