Though September's auto sales came in a bit on the sluggish side for GM and Ford, analysts still...


Though September's auto sales came in a bit on the sluggish side for GM and Ford, analysts still see the annualized rate of 14.9M as a bright spot in the economy. Moody's Mark Zandi notes the overall economic recovery would be "much weaker" without auto sales charging hard.
Comments (9)
  • bbro
    , contributor
    Comments (10940) | Send Message
     
    Recession don't start with positive year over year sales much less
    double digit positive year over year sales...
    3 Oct 2012, 07:01 AM Reply Like
  • 2MuchDebt
    , contributor
    Comments (331) | Send Message
     
    Depends on who's buying the automobiles; government or consumer. Also, the credit strength of the purchaser is important as well.
    3 Oct 2012, 08:27 AM Reply Like
  • davidingeorgia
    , contributor
    Comments (2661) | Send Message
     
    "Moody's Mark Zandi notes that it would be even harder to pretend that there actually had been a "recovery" without auto sales inflated by government fleet purchases and taxpayer-funded subsidies to buyers."

     

    There. Fixed it for you.
    3 Oct 2012, 07:06 AM Reply Like
  • Freedoms Truth
    , contributor
    Comments (1026) | Send Message
     
    Or even better ....

     

    "Moody's Mark Zandi notes the overall economic recovery would be a recession without auto sales keeping the pathetic economy numbers above zero growth line."
    3 Oct 2012, 09:55 AM Reply Like
  • mweaver
    , contributor
    Comments (199) | Send Message
     
    two thirds of sales/leases to purchasers with
    subprime credit scores or below (bloomberg)
    3 Oct 2012, 07:57 AM Reply Like
  • Freedoms Truth
    , contributor
    Comments (1026) | Send Message
     
    Makes sense ... all those people kicked out of their foreclosed home need a place to sleep. Why not their cars?
    3 Oct 2012, 09:55 AM Reply Like
  • bbro
    , contributor
    Comments (10940) | Send Message
     
    Love the gloom analysis..keep it up!!
    3 Oct 2012, 08:25 AM Reply Like
  • schatzl
    , contributor
    Comments (391) | Send Message
     
    Surprising to see car sales that strong in the US. Saw the data yesterday out of Europe: abysmal. Anything from -11% in Germany, -25% Netherlands, -31% in Portugal, -26% Italy, -18% France to -37% in Spain m/m. Getting some insider info from fast moving consumer goods in Europe which have been catastrophic. Europe is sliding into a deep recession/depression.

     

    As others have said: following caveats to be aware of in the US car sales numbers: aggressive sales policies to consumers with sub prime credit rating, sales to government and much of the stock stuck in the channels. I'd be very wary.
    3 Oct 2012, 10:04 AM Reply Like
  • Freedoms Truth
    , contributor
    Comments (1026) | Send Message
     
    The wheels will come off once Obama is re-elected. They are giving us Potemkin Data for a few months to drag Obama across the election finish line.
    3 Oct 2012, 01:58 PM Reply Like
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