Wednesday, October 1, 2008

Good Thing for F & GM You Can't Short Their Shares

Monthly auto sales data:

Ford sold 120,788 cars & trucks in September, a 34.7% decline from a year ago. The SUV & van segment dropped by 39%.

GM's sales dropped by 16%, but their average price incentive was $3,972 per vehicle. Sounds like a hefty price to gain market share. They plan on replacing the employee pricing promotion with 6 year 0% loans on 2008 models.

Japanese car makers did not impress either:

Honda: 24% drop
Nissan: 37% drop
Toyota: 32% drop

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