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Auto sales: Worst August since 1983

CNN Monney -- By Chris Isidore, CNNMoney.comSeptember 1, 2010:

NEW YORK (CNNMoney.com) -- The nation's top automakers reported disappointing sales Wednesday, resulting in the worst August for industrywide auto sales in 27 years.

According to sales tracker Autodata, U.S. new vehicle sales fell just short of 1 million vehicles, a drop of 21% from a year ago, which included Cash for Clunkers. That federal program created a sugar rush of sales by dangling an incentive of up to $4,500 in cash for buyers who traded in older gas guzzlers for more efficient models.

Industry sales also fell 5% from July levels. August sales typically outpace July, as deals become available on older models ahead of the fall introduction of new model year cars. August sales would equate to an annual sales pace of about 11

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Submitted Sep 01, 2010 By: creeklin

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remay Champion Author Houston Posts:4,701 Points:1,655,795 Joined:May 2006	Message Posted: Sep 3, 2010 7:36:40 AM Ignore remay Report Abuse And this news comes as a surprise?
PathfinderSC Champion Author South Carolina Posts:7,170 Points:1,366,205 Joined:Mar 2008	Message Posted: Sep 2, 2010 12:47:11 PM Ignore PathfinderSC Report Abuse Bring the jobs back, And put people back to work. Make cars people can buy, And you will sell them. They putting to much toys in cars that runs up the price, and more to fix when it goes bad.
Martinman Champion Author Mississippi Posts:11,760 Points:1,659,270 Joined:Sep 2005	Message Posted: Sep 2, 2010 7:57:44 AM Ignore Martinman Report Abuse REPOST !
derKraut Champion Author Ontario Posts:1,669 Points:848,795 Joined:Dec 2008	Message Posted: Sep 2, 2010 6:29:58 AM Ignore derKraut Report Abuse No surprise. The economies are in trouble. No mention of Hyundai's performance though.
gs7101 Champion Author San Antonio Posts:3,203 Points:245,355 Joined:Jun 2009	Message Posted: Sep 2, 2010 6:14:03 AM Ignore gs7101 Report Abuse It's going to get worst if automakers can't make the grade.
BMW2014 Champion Author Toronto Posts:1,794 Points:364,300 Joined:Jun 2010	Message Posted: Sep 2, 2010 4:53:35 AM Ignore BMW2014 Report Abuse Now there is USAA program that will put more wrinkles on Automaker's face.
BBopp Champion Author Dayton Posts:5,040 Points:1,596,020 Joined:Dec 2006	Message Posted: Sep 2, 2010 3:49:45 AM Ignore BBopp Report Abuse History is repeating itself at a much faster pace. Is anyone surprised the sales are low? We have people unemployed & underemployed. Add to that the cost of a vehicle may be more than most make in a year, even if employed. It's insane.
ArmydudeNC Champion Author North Carolina Posts:5,786 Points:912,475 Joined:Jul 2009	Message Posted: Sep 2, 2010 3:47:32 AM Ignore ArmydudeNC Report Abuse Same writer, same sad story, more info reported. Just proves that things aren't better off after two years.
Amplion Champion Author Oregon Posts:4,237 Points:1,398,310 Joined:Sep 2005	Message Posted: Sep 2, 2010 2:30:03 AM Ignore Amplion Report Abuse WE ARE IN A DEPRESSION TIME TO VOTE OUT THOSE WHO LET IT HAPPEN: RON WYDEN, PETER DeFAZIO & THEIR DEMONCAT CRONIES. TEA PARTY TIME !!!!!!!!
MidNJ Champion Author New Jersey Posts:4,628 Points:739,595 Joined:Sep 2009	Message Posted: Sep 2, 2010 12:03:44 AM Ignore MidNJ Report Abuse FYI, I reposted Chris Isidore's article from November 2008. Very interesting comments are coming in, but few recognize the similarity in them. LOL.
MidNJ Champion Author New Jersey Posts:4,628 Points:739,595 Joined:Sep 2009	Message Posted: Sep 1, 2010 10:54:12 PM Ignore MidNJ Report Abuse This is a repost (REPOST!!!) of a CNN article from November, 2008!!! =============================== Auto sales worst in 25 years GM sales plunge 45% and sales for its U.S. and Asian rivals also tumble as industry records lowest sales pace since 1983. By Chris Isidore, CNNMoney.com senior writer Last Updated: November 26, 2008: 11:51 AM ET How far the mighty have fallenvideo How far the mighty have fallen More Videos NEW YORK (CNNMoney.com) -- Tight credit and worried consumers resulted in the weakest pace of U.S. auto sales in 25 years. ??????????????????? What kind of Buddy posts this kind of BS???? [Edited by: MidNJ at 9/1/2010 11:57:06 PM EST]
graceman Champion Author Baltimore Posts:3,230 Points:819,140 Joined:Jun 2008	Message Posted: Sep 1, 2010 10:25:56 PM Ignore graceman Report Abuse What do they expect with so many out of work.
ssect8 Champion Author Hartford Posts:5,614 Points:1,663,705 Joined:Jun 2006	Message Posted: Sep 1, 2010 10:21:51 PM Ignore ssect8 Report Abuse Not too surprising with the economy in such a bad state.
ENORMS Champion Author Colorado Posts:3,014 Points:1,172,310 Joined:Sep 2006	Message Posted: Sep 1, 2010 9:17:00 PM Ignore ENORMS Report Abuse Maybe that was the bottom!