Robert Nardelli, Home Deport (HD) exile and current CEO of Chrysler, may be wishing he stayed in retirement. His new company lead the decline in domestic car sales in January. Chrysler sales fell 12% to 137,392.
The only company which had a good month was the largest one, GM. Its sales moved up 2.6%. Some of the company’s fuel-efficient cars sold especially well, lead by the new Malibu and Cobalt.
The huge bleed in US car sales did not end because GM had a good month. On an annualized basis cars are selling the rate of 15.3 million, which would be a disaster if its continues through the year. It could take $25 billion in vehicle sales out of the American market in 2008.
Pick-up truck sales, profitable to all of the car companies, continued to fall. Sales of hybrids continued to surge.
Douglas A. McIntyre
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