Big 3 See Weakest October Sales in Years
Consumers' concerns about high fuel prices and the economy combined with the family-pricing incentive programs offered through the summer have contributed to fewer sales in October for General Motors, Ford Motor Co. and DaimlerChrysler, Reuters reported.
Consumers’ concerns about high fuel prices and the economy combined with the family-pricing incentive programs offered through the summer have contributed to fewer sales in October for General Motors, Ford Motor Co. and DaimlerChrysler, Reuters reported.
According to reports, Deutsche Bank analyst Rod Lache said GM’s October U.S. sales are down 26 percent compared to the same time last year. Similarly, he said sales at Ford are down 23 percent so far this month and Chrysler’s sales have dropped 13 percent.
The current trend at GM could lead to its lower market share level since 1980. Lache told Reuters that sales aren’t expected to improve much in November, but will likely show improvement in December.
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