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Version 1 |
| Car firms see sales plunge in US |
Car firms see sales plunge in US |
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(about 2 hours later)
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| US car sales fell sharply last month, in the latest sign that the continuing problems in the financial sector are starting to hit the general economy. | US car sales fell sharply last month, in the latest sign that the continuing problems in the financial sector are starting to hit the general economy. |
| Led by a 37% decline at Nissan, all the main companies saw sales fall in September compared with the same month a year earlier. | Led by a 37% decline at Nissan, all the main companies saw sales fall in September compared with the same month a year earlier. |
| Sales declined by 34% at Ford, 33% at Chrysler, 32% at Toyota and 24% at Honda during the month. | Sales declined by 34% at Ford, 33% at Chrysler, 32% at Toyota and 24% at Honda during the month. |
| General Motors faired slightly better. Its sales fell 16% after it cut prices. | General Motors faired slightly better. Its sales fell 16% after it cut prices. |
| Overall industry-wide car sales declined 26%. | Overall industry-wide car sales declined 26%. |
| Analysts blamed the downturn to the turmoil in the financial sector. | Analysts blamed the downturn to the turmoil in the financial sector. |
| "It was tantamount to a natural disaster," said Ford sales analyst George Pipas. | "It was tantamount to a natural disaster," said Ford sales analyst George Pipas. |
| Car industry analyst Erich Merkel said the figures showed that the US was now in recession. | Car industry analyst Erich Merkel said the figures showed that the US was now in recession. |
| US sales of luxury German brands also fell last month. | US sales of luxury German brands also fell last month. |
| Sales of Mercedes-Benz lost 16%, BMW fell 30%, and Porsche declined 45%. | Sales of Mercedes-Benz lost 16%, BMW fell 30%, and Porsche declined 45%. |
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