Cash for New Cars

Posted by Admin - December 1st, 2009

A visit to virtually any car lot in the nation right now will tell you that the sale of automobiles has slowed down significantly over the past year or so. Having spoke with several car salesmen, I can tell you that they are really hurting in the industry. However, it seems that there may be some good news.

A new study released today shows that auto-industry sales number are increasing, although the climb is slow. GM, Ford, Toyota, and Honda all reported sales that were roughly equal to last month, which may signify that the falling sales have stopped and may be back on the upswing. Chrysler reported a 25% fall in sales, while Hyundai reported a 46% increase–clearly outperforming their competitors. This should be great news for car dealers all over the nation, even those who sell Chrysler’s, because an rising tide in the market will help to float all firms.

Sales were flat in October, so two consecutive months in which sales were largely unchanged is a positive sign for an industry suffering its steepest one-year slump since the 1970s.

More here.