The news from the automobile industry did not improve today. Research firm JD Power warned that 2009 could be a more troubled year for sales that 2009 was.
“While the global automotive industry is clearly experiencing a slowdown in 2008, the global market in 2009 may experience an outright collapse. While mature markets are being impacted more severely than emerging markets, no country or region is completely immune to the turmoil," said Jeff Schuster, executive director of automotive forecasting at Power.
JD Power expects US vehicles sales to drop to 13.2 million in 2009 from 13.6 million this year.
The firms revised it 2008 estimates for China and India down and said China numbers for 2009 may be revised lower as well.
Douglas A. McIntyre