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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]