If wishes were auto sales, than dealers would be riding high, but once again predictions of a resurgence of sales as the spring selling season began in April were made a mockery of as the final data became available.
Overall April sales, including domestic and offshore-owned brands, unadjusted for business days, were down 34.4% from April 2008, according to numbers from Autodata Corporation. The seasonally adjusted annual sales rate (SAAR) now stands at 9.5 million, where it has been stuck all year.
Offshore-owned brands sold 442,124 vehicles in April, down from 656,034 in April 2008. Asian brands accounted for 45.5% of the market, up from 44.7%i n April 2008, and Europeans had an 8.5% share, up from 7.5%. Domestic brands finished the month with 46% of the market.
“We haven’t seen the numbers we hoped for this spring,” said American International Automobile Dealers Association Chairman, Russ Darrow. “It is becoming increasingly clear that point-of-sale stimulation is necessary to jumpstart a recovery. Specifically, we need Congress to pass a scrappage/fleet modernization bill. Any bill must be immediate, simple, and inclusive of all brands retailed in the United States.” (more…)