Report: Cash for Clunkers Binge Brings September Hangover for Auto Indsutry

Report: Cash for Clunkers Binge Brings September Hangover for Auto Indsutry

As expected, auto industry sales were way down for the month of September, after record highs posted during the previous month with the Cash for Clunkers program in effect.

Compared to September of 2008, GM’s sales declined 45 percent, while Chrysler dropped 42 percent. Ford’s posted just a modest 5 percent loss due in part to steady gains in the truck segment, with F-150 pickups (pictured above) selling at an increased pace.

As for the high-volume foreign automakers, Honda dropped 20 percent, Toyota was down 13 percent and Nissan slumped by 7 percent. And with some automakers losing ground, others were sure to grab market share with Hyundai/Kia up 26 percent (its third straight monthly gain), while Porsche rose 8 percent, BMW was up 4 percent and Subaru posted a 1 percent increase.

The loses for September are actually worse than they sound, as the month they are being compared to, September of 2008, was a brutal month for auto industry sales, after the collapse of Lehman Brothers started the recession watch.

Overall, the industry wide decline is listed at 23 percent for September, slightly better than the average 28 percent drop for the previous eight months.

Industry analysts expect these slumping sales to continue through the rest of 2009.

For a full breakdown of each automaker’s sales in September, see after the jump:

[Source: Automotive News]

Automaker Sept. 2009 Sept. 2008 Pct. chng. 9 month 2009 9 month 2008 Pct. chng.
BMW Group* 19,205 18,543 4% 179,489 236,660 –24%
Chrysler Group LLC 62,197 107,349 –42% 715,516 1,183,519 –40%
Daimler AG** 17,814 20,575 –13% 147,969 195,626 –24%
Ford Motor Co.*** 114,241 120,355 –5% 1,234,104 1,608,983 –23%
General Motors**** 155,679 282,806 –45% 1,536,903 2,412,666 –36%
Honda (American)† 77,229 96,626 –20% 884,136 1,180,583 –25%
Hyundai Group†† 53,134 42,148 26% 580,787 565,752 3%
Isuzu 258 –100% 165 4,189 –96%
Jaguar Land Rover††† 3,106 3,591 –14% 27,059 13,948 94%
Maserati 130 199 –35% 948 1,928 –51%
Mazda 14,234 16,169 –12% 160,189 215,408 –26%
Mitsubishi 4,712 7,378 –36% 42,839 80,105 –47%
Nissan‡ 55,393 59,565 –7% 580,296 785,699 –26%
Porsche 1,581 1,458 8% 14,310 21,076 –32%
Subaru 14,593 14,491 1% 158,421 143,789 10%
Suzuki 1,861 4,083 –54% 33,525 74,517 –55%
Toyota‡‡ 126,015 144,260 –13% 1,296,422 1,793,304 –28%
VW‡‡‡ 24,698 24,879 –1% 220,292 243,371 –9%
Other (estimate) 384 524 –27% 3,459 4,709 –27%
TOTAL 746,206 965,257 –23% 7,816,829 10,765,832 –27%
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