Car Sales Recession Gets Worse Into 2009

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At the beginning of this year, a number of US car companies said they thought that domestic units sales would drop only slightly from 2007. Those numbers have been revised down ever since.

Most experts think the US market is worth about 14.5 million vehicles in 2008. That would be a collapse from the 16.1 million sold last year.

Forecasts for 2009 are even worse. According to The Wall Street Journal, Standard & Poor’s" now expects 2008 sales of 14.4 million vehicles, and a drop in 2009 to 14.1 million."

If the errors in the predictions going into this year are any guide, 2009 US vehicle sales could be well below 14 million. The numbers never get revised up.

Douglas A. McIntyre