Consumer confidence has been hammered, and many potential buyers are waiting on the sidelines for some sign that the economy is recovering before they jump in.
General Motors’ December sales fell 31.2%, but GM says that, all things considered, it was satisfied the year ended down just 22%: A supplier strike in spring shut down some GM plants, consumers shifted quickly away from its profitable trucks and SUVs, and it couldn’t offer loans to many buyers once the banking crisis hit because its finance arm was crippled.
“Our New Year’s resolution is to shift the focus back to where it belongs, to the consumer,” said Jim Lentz, president of Toyota’s North American sales.
“The sooner stimulus efforts find their way to where they’ll do the most good – into the hands of consumers – the sooner we’ll see a turnaround in confidence levels and a return of buyers to the marketplace.”
Source: http://www.usatoday.com/money/autos/2009-01-05-auto-sales_N.htm
