Thursday, November 06, 2008
US car sales worst in 30 years
The UK motor industry is bracing itself for more poor new car sales figures on Thursday (November 6) following September's year-on-year slump of more than 20%. However, the industry will be hoping that the data is not as bad as in the United States where sales last month dropped to their lowest October level for 30 years.
Despite motor manufacturers offering significant discounts, the US reduction was blamed on evaporating consumer confidence and scarce credit facilities.
New car sales in the US in September totalled 12.5 million units, but October's sales fell to 10.7m - down from 16.1m 12 months ago and the lowest level since the mid-1970s.
Mark LaNeve, General Motors' North American marketing chief, described October as 'probably the worst industry sales month in the post-world war two era'.
DATED: 06.11.08
FEED: AW
