My take on the economy….
By Daniel at 2 December, 2009, 4:17 pm
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Below is a summary of U.S. auto sales (units) for the big six…General Motors, Ford, Chrysler, Toyota, Honda and Nissan starting with August, which was a Clunker month.
August, 2009……………1,007,863
September 2009…………592,162….down 41% from August
October 2009……………..673,671….up 14% from September
November 2009………….602,145….down 11% from October
And now the November year-over-year figures for the big six. This gives you a good idea of how much our economy has truly improved.
November 2007………..982,331
November 2008………..612,100….down 37.7% from November 2007
November 2009………..602,145….down 1.6% from November 2008 and down 38.7% from November 2007
Several things to remember when looking at the numbers. First, in August 2009, the Cash for Clunkers program subsidized the purchase of approximately 500,000 vehicles.
Second, the November 2007 period was before the meltdown in the financial markets.
Third, the November 2008 period was when the meltdown was in full swing and uncertainty still reigned (not that it’s any more certain now…but that’s another discussion). Bear Stearns was absorbed by JPM…..Lehman Bros was toast….our tax dollars had just gone to bailout the banks….and the stock market was taking a nose dive. Suffice it to say….November 2008 was a terrible time….and auto sales reflected that uncertainty. Now here we are one year later – November 2009 – and sales are even worse.
There is no recovery.
- Vics
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