Saturday, February 28, 2009

Auto Sales Forecast Hit By Analysts' Loss of Confidence

Automotive sales forecasts for 2009 are getting repeatedly slashed as consumer confidence plummets. New numbers from J.D. Power show an anticipated 10.4 million unit sales, that's 1 million less than the number they had going into 2009.

With the stock market falling to a number that is half from it's peak in 2007 and with mid-600,000 numbers of new people seeking unemployment benefits, no of this comes as a surprise.

From the Associated Press: "Automakers such as Kia and Subaru, which many car buyers view as high-value brands, could also outperform the competition, he said. Subaru is the only automaker that Toprak expects to post a sales increase for the month.

Sales of the automaker's top-selling all-wheel drive Forester, which starts at $19,995, more than doubled to 5,162 units in January." more.

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