The future of the auto industry | DrivingtheNation
New car sales in September were the worst they have been since 1993. J. D Power reported that September, 2008 sales of new cars were down 26.7% from September, 2007. The numbers state the obvious, the auto industry is in trouble. Sept 2007 new car sales - 1,312,291 Sept 2008 new car sales - 962,097 down 26.7% month over month 2007 new car sales as of 9/07 - 12,322,000 2008 new car sales as of 9/08 - 10,740,758 down 12.3 % year-to-date New car sales for 2007 came in at 16.1 million, but don't expect that number for 2008. J.D. Power is forecasting 14.2 million for 2008, but if the sales numbers for the last three months of 2008 are the same as September, the car industry will barely sell 13 million cars. What is causing this double digit decline? The sales decline is no longer because of the price of gasoline, if it were you would see a decline in just the Detroit 3. This freefall includes all the auto manufacturers, with double digit declines for most of them. This downward spiral is a