US Car Sales Expected To Crater In June
Domestic car sales are expected to move into reverse in June. That should be expected after a year of monthly increases–some of them breathtaking. Edmunds expects every major car company to post declines with Chrysler, of course, having the largest…
Edmunds expects every major car company to post declines with Chrysler, of course, having the largest falloff–13.5% from May’s figure. Nissan is expected to have a 13.1% fall-off, and Toyota will be down 12%.
While car company sales are expected to cool off from May, most brands should post increases from June 2009.
The question is whether June will be the beginning of a trend driven by another slowdown in the economy and tightening consumer credit.Ford Motor (NYSE: F) is expected to sell 174,700 vehicles and have a 17.6% market share.GM is forecast to sell 204,700 units and have a market share of 20.6%, which is critical to its IPO plans. Toyota Motor (NYSE: TM) should sell 143,200 cars and trucks, and post a market share of 14.4% well down from its 15.4 in June 2009.
Total industry sales are expected to be off 9.5% from May
Douglas A. McIntyre
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
