US auto sales plunge - do you think this is a global trend or just here at home?
Answers
2641 points
MNSL answered one month ago …
This is a global trend. Car sales and volumes are falling rapidly.
Because of this some commodity, producers will hit hard in the next 02 years.Energy consumption and
Raw materials prices will come down.
Cost of car productions also will come down.
110 points
rajinder answered one month ago …
this is really be a global downfall in the economy. Similar to in india where the auto sales have fall down because of the political & land acquisitions problems. I think that can also be due to the home reasons just like in india due to land acquisition problems & the political interferances
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209 points
MichaelShulman answered one month ago …
It's most definitely a global trend that's going to worsen -- 600 auto dealers have already closed up shop this year. This is the type of number typically associated with a recession -- and the trend is only accelerating.
For 2009, I see a full-blown recession as credit will still remain too tight despite Fed rate cuts. Exports will lag due to worsening conditions in Europe and Asia as the economies of India and China slow down. Corporate earnings will take a big hit as business contracts dry up -- right now, analysts believe the fall in commodity prices will support profits but that wave is over.
373 points
dustbusterz answered one month ago …
China has seen a significant drop in Auto Sales this year(could we attribute this to the closing of factories for the Olympics? ) Its possible, but they are seeing slow downs in other areas right now.India also has seen significant slowing in Auto Sales. so from what I can see, it is definitely a Global situation Of course, we already know that most all of Europe is hurting , so I expect just about any place you look, your gonna find Auto Sales are not doing as well as hoped.
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