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U.S. Auto Sales Post Worst Year Since 1992
Total U.S. auto sales last year hit a 16-year low as the world’s major carmakers racked alarmingly high double-digit sales drops in the recession-plagued United States.
According to industry research firm Autodata Corp., U.S. vehicle sales clocked in a 13.2 million, the lowest since 1992. The year before, annual sales were 16.1 million.
U.S. auto sales fell 36% in December, an alarming signal that we’ve yet to see the worst.
“It’s one of the worst years ever, and this year will be worse,” Stephanie Brinley, an analyst at consulting firm AutoPacific Inc. in Southfield, Mich., told Bloomberg “It’s not a gas problem.…
7Jan2009 | Money Morning | 0 comments | Continued
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