You would think that in the middle of the worst economic downturn since the great depression that nobody would be purchasing cars. But that isn’t the case. Cars are still selling.
Ford Motor Company, the only United States “Big Three” automaker not to file Chapter 11, has increased its market share. Ford announced that it “achieve(d) its highest market share in three years” and May 2009 “sales totaled 155,954, up 20 percent versus April, and the highest sales for any month since July 2008”. See the official press release.
Toyota Motor Sales sold 152,583 vehicles in May 2009. Even though this is down significantly from May 2008 sales, it is a 20% increase from April 2009. See the official press release.
General Motors, now in Chapter 11, sold 191,875 vehicles in May 2009. Like other automakers, they are down significantly from last year sales, but from April 2009 to May 2009 they have seen an 11% increase. See the official press release.
The major players are showing an increase in sales from April to May. Is this a sign that the economy is turning around? Or is it just because some autos are selling at sale fired prices?
What do you think? Has the economy hit rock bottom? Are car sales a sign of a turnaround?
