The Glass Is Half Full

Auto Finance News

Vehicle sales reports for December are starting to trickle in, and the results are generally in line with expectations. The majority of manufacturers will record double-digit declines for the month — and year.

Already, Ford announced a 32% decline for December and 21% for the full year.

Sure, the news will get worse before it gets better, but there is a silver lining in all this. You see, throughout 2008, industry executives revised and re-revised their sales targets because of record-high gas prices, plunging consumer confidence, soaring unemployment, and a handful of other factors. The year started out on a 12-million-unit-SAAR trajectory; it ended at about a nine-million-unit pace.

But with 2008 behind us, we actually have some direction. We can isolate the overall year-over-year sales decline (probably about 20%) — and move forward. Estimates for 2009 vehicle sales are in the 10-million-unit range. It’s a far cry from the 16-million mark of 2007, but it seems like a realistic starting point — one from which we will continue to grow.

Exit mobile version