General Motors' sales tumbled 53 percent

[Bindare_Dundat]

DETROIT (AP) -- Major automakers' U.S. sales continued their deep slump in February, putting the industry on track for its worst sales month in more than 27 years as huge rebates and low-interest financing failed to spur fearful consumers to make a major purchase.

General Motors' sales tumbled 53 percent from a year earlier, while Ford's U.S. sales fell 48 percent and Chrysler's fell 44 percent. The major Japanese automakers fared only slightly better.

The slide casts further doubt on the financial viability of GM and Chrysler, which need to sell cars and generate critical cash to supplement the $17.4 billion in government loans that are keeping them in business.

Automakers and analysts have been predicting sales will rebound in the second half of this year, but they are becoming less certain. Massive layoffs, the stock market decline and sliding home values are prompting people to hold on to their cars longer, while those who are buying are more often opting for a used car or truck

http://finance.yahoo.com/news/GM-Ford-Toyota-sales-plunge-apf-14530218.html

[Soul Crusher]

DETROIT (AP) -- Major automakers' U.S. sales continued their deep slump in February, putting the industry on track for its worst sales month in more than 27 years as huge rebates and low-interest financing failed to spur fearful consumers to make a major purchase.

General Motors' sales tumbled 53 percent from a year earlier, while Ford's U.S. sales fell 48 percent and Chrysler's fell 44 percent. The major Japanese automakers fared only slightly better.

The slide casts further doubt on the financial viability of GM and Chrysler, which need to sell cars and generate critical cash to supplement the $17.4 billion in government loans that are keeping them in business.

Automakers and analysts have been predicting sales will rebound in the second half of this year, but they are becoming less certain. Massive layoffs, the stock market decline and sliding home values are prompting people to hold on to their cars longer, while those who are buying are more often opting for a used car or truck

http://finance.yahoo.com/news/GM-Ford-Toyota-sales-plunge-apf-14530218.html

My dad went over there and tried to price out a Tahoe.  He was shocked at the price tag and could not believe the cost of these things. 

[240 is Back]

i went to look at a nice used 2-year old ford explorer for 17k.  Supposedly hugely discounted... but still, not worth it to me.

bring the cost down to $12k and watch them sell like hotcakes.

[Soul Crusher]

i went to look at a nice used 2-year old ford explorer for 17k.  Supposedly hugely discounted... but still, not worth it to me.

bring the cost down to $12k and watch them sell like hotcakes.

You are right 100%  My dad went over there ready to buy, but was completly shocked at the costs of some of these new cars. 

He said - "I am better off with a BMW"