Ford, Toyota Say November Sales Tumbled More Than 30%

[Purveyor]

Source: Bloomberg

By Bill Koenig and Alan Ohnsman

Dec. 2 (Bloomberg) -- Ford Motor Co., Toyota Motor Corp. and Honda Motor Co. said November U.S. sales tumbled more than 30 percent as the recession and Detroit automakers’ aid pleas kept buyers away from showrooms.

Ford Motor Co., the second-biggest U.S. automaker, said sales dropped 31 percent, while Toyota, No. 1 in Japan, posted a 34 percent decline and Honda reported a 32 percent slide from a year earlier.

Their reports were the first for a month in which General Motors Corp., the largest U.S. automaker, said it might not have enough operating cash to last through this year. Ford, GM and Chrysler LLC were presenting their survival plans to Congress today amid a deepening economic slowdown that is sapping demand.

“Most consumers are very guarded about big-ticket items,” said Dennis Virag, president of Automotive Consulting Group in Ann Arbor, Michigan.

Ford expects the seasonally adjusted annual sales rate for November to be lower than October’s 10.6 million, the company’s marketing chief, Jim Farley, said on a conference call. Analysts and economists surveyed by Bloomberg had projected a November rate of 11 million.

An industrywide decline would mark the 13th straight monthly drop, the longest slide in 17 years.

Read more: http://www.bloomberg.com/apps/news?pid=20601087&sid=alAAGrrkztyA&refer=home

[TreasonousBastard]

1. But I thought US automakers' problems all came from...

bad management and lousy cars.

So, howcum those great Japanese cars ain't selling?

[Phred42]

3. It's the Unions fault...it's Clinton's fault....it's The Obama recession

:sarcasm:

[aviationpm]

5. Japanese car manufacturers aren't on the brink of bankruptcy. n/t

[Romulox]

6. Objection. Answer is nonresponsive to the question. nt

[LanternWaste]

7. Yet relevant.

Yet still maintains relevance to the broader topic.

[Romulox]

8. Relevant to WHAT?

What issue in controversy does the poster's point speak to? :shrug:

[Fumesucker]

9. One word.. Bailout

Not that I'm against it, we managed to shovel over a trillion dollars to paper shufflers, we can help out those who actually do useful work for a change.

[LanternWaste]

11. I agree. I hope it becomes a national priority

I agree. I hope the salvation of Detroit becomes a national priority, along with alternative means of both transport and fuels.


Yet it seems I'm in the minority when I think that paper-pushers, bean-counter and other trendy pejoratives used to describe white-collar jobs do useful work too, and that the bail-out for the credit and banking industry was, on a wholly pragmatic level, a necessary evil.

[Fumesucker]

12. Obviously, some management is necessary and even good..

But we now have legions of managers whose entire raison d'etre seems to be paperwork for the sake of paperwork. We have MBA graduates these days who move to near the top of companies without really knowing a damn thing about the products or services that company provides.

I use a mild pejorative because those who actually create physical objects for our use seem to be among the most despised and ignored people in America. This is particularly true on the right, but I also get strong hints of this bias here on DU too.

[LanternWaste]

10. B.r.o.a.d.e.r. T.o.p.i.c.

B.r.o.a.d.e.r. T.o.p.i.c. (I typed as slowly as I could, and bless your little heart for typing "WHAT" in all caps...)

The decline and possible demise of the auto industry as a whole, with a narrower focus on the U.S. auto industry and its request for a massive ("massive?" no-- maybe "epic") government loan.

I could read that into his post, I'm sure many people could too. :shrug:

[Romulox]

13. LOL. You are just a cheap labor Democrat looking to bash working people.

How is that for context? :hi:

[LanternWaste]

14. Actually, I'm just some guy.

Actually, I'm just some guy.

But I've been called worse things by better people. :P And that's some serious context right there. :hi:

[Romulox]

15. Just "some guy" who pushes cheap labor and anti-worker memes on a "progressive" board, you mean. nt

[LanternWaste]

17. If you feel better validated by stating that, by all means...

If you feel better validated by stating that particular invalid presumption, then by all means...

(I'm also a terrorist, I eat puppies for breakfast, and shoot rubber bands at rainbows)

:rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl:

[Phred42]

2. Start making less expensive cars

Stop adding on all the frufru crap that jacks up the price

[noonwitch]

16. Have you tried heated seats in the winter? They are wonderful.

I used an x plan to buy my Focus, and they basically gave me a deluxe edition for the price of a basic car. The heated seats and the 6 disc cd player are pretty nice frufru.

[Romulox]

4. Toyota just doesn't make cars that people want! nt