Car sales deline

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http://online.wsj.com/article/SB124646313562280557.html
 Quote:
Annualized U.S. light-vehicle sales looked to remain stubbornly below 10 million in June despite signs of improved retail business, as well as continuing gains in other key global markets. Ford Motor Co. beat expectations with an 11% year-on-year decline while General Motors Corp., Toyota Motor Co. and Chrysler LLC all lagged, with executives noting a softening in domestic sales at the end of the month.
 Quote:
The sharp declines at GM and Chrysler, 33% and 42% respectively, were caused in part by tumbling fleet sales, as the companies tightened their inventories and dealers reduced their stock of vehicles. Fleet sales fell 49% and 95%, respectively. Still, Chrysler noted its retail market share rose by a percentage point from a year earlier to 9% while GM said its retail sales rose month-to-month for a fourth straight time.
 
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Im so sick of this B.S..... I cannot believe our system is this screwed up.. On yesterdays MSN money, which I check a few times a week, there was an article that read something like this: "Stocks rally and the price of oil rises as only 470,000 jobs were lost in the US for the month of June instead of the estimated 500,000" Thats NOT verbatim, but it was something to that effect. I was SOOO effin mad that oil prices and stocks increase because our job loss "wasnt as bad as expected" but the number of job loss was GYNORMOUS. Geez, great thing to celebrate and start speculating about. Friggin idiots......
 
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chriznat -- good point.same scenario as when a co. misses a quarterly profit target by a few pennies, and then the share price tanks, or beats the target, and the share price jumps.whether is makes sense, or not, is irrelevant. it is what it is. only 470,000 jobs lost in june. it makes you think about the type of people who were hoping for the demise of the big 3 back in the winter. one wonders what job loss numbers would be like if this were to happen. scary.
 
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People need to turn off the TV. The media is the redneck and the people are the sheep.. are you understanding this analogy?
 
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 Originally Posted By: Eric Smith
People need to turn off the TV. The media is the redneck and the people are the sheep.. are you understanding this analogy?
Bah! Bah!!
 
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eric --you're absolutely right, but you're directing your post to the wrong person. the sheep are the ones that believe all that the mags and tv state. i'll use the car bashing threads as an example, as it's a well known topic here. read the other thread in this category -- considering caliber srt-4. many knock the product, because of what they heard, or read. i stated to the OP to not listen to people that knock a particular product, drive it for yourself, and use common sense. to put it another way -- don't be one of the sheep. read a couple of my posts on the subject. i bash,nor plug any product. i say to drive different offerings, and decide for yourself. again -- don't be one of the sheep. as stated earlier, i use this example, as it's well known.i am understanding your analogy. are you understanding the above ?
 
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 Originally Posted By: yeti
chriznat -- good point.same scenario as when a co. misses a quarterly profit target by a few pennies, and then the share price tanks, or beats the target, and the share price jumps.whether is makes sense, or not, is irrelevant. it is what it is. only 470,000 jobs lost in june. it makes you think about the type of people who were hoping for the demise of the big 3 back in the winter. one wonders what job loss numbers would be like if this were to happen. scary.
My guess is that 470,000 jobs would more than cover the job losses. And the tax payers would not have spent 100 billion on bailouts.
 

Tempest

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 Originally Posted By: yeti
tempest -- according to fox news, toyota and honda sales were down 32% each, and nissan down 23%. it's odd that you wouldn't mention that.
Sorry that I am not omniscient.
 
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junior --a while back, the news people would say that, including spinoff jobs, the number of unemployed would be well into 7 figures. as well, these jobs pay a HUGE amount of tax.who would replace the tax revenue lost from these jobs? most newly created jobs are service industry jobs, which pay less, and therefore the govn't makes fewer tax dollars from them. an economist said, a couple of years back, that the u.s. is becoming a nation of hamburger makers, and, as manufacturing disappears, we're in a race to the bottom.we're losing our middle class, as china creates one. this applies to canada, as well. i guess it's to whom one listens, or what report is credible. at the end of the day, it's sad that this is happening.i don't wish job loss on anyone. tempest-- nothing to be sorry about, as i welcome intelligent comment.we must, of course, give equal time to the large asian carmakers.
 
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 Originally Posted By: yeti
eric --you're absolutely right, but you're directing your post to the wrong person. the sheep are the ones that believe all that the mags and tv state. i'll use the car bashing threads as an example, as it's a well known topic here. read the other thread in this category -- considering caliber srt-4. many knock the product, because of what they heard, or read. i stated to the OP to not listen to people that knock a particular product, drive it for yourself, and use common sense. to put it another way -- don't be one of the sheep. read a couple of my posts on the subject. i bash,nor plug any product. i say to drive different offerings, and decide for yourself. again -- don't be one of the sheep. as stated earlier, i use this example, as it's well known.i am understanding your analogy. are you understanding the above ?
Uh my post wasn't directed at anyone in general. Just a observation I really wanted to get off my chest.
 
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 Originally Posted By: yeti
junior --a while back, the news people would say that, including spinoff jobs, the number of unemployed would be well into 7 figures. as well, these jobs pay a HUGE amount of tax.who would replace the tax revenue lost from these jobs? most newly created jobs are service industry jobs, which pay less, and therefore the govn't makes fewer tax dollars from them. an economist said, a couple of years back, that the u.s. is becoming a nation of hamburger makers, and, as manufacturing disappears, we're in a race to the bottom.we're losing our middle class, as china creates one. this applies to canada, as well. i guess it's to whom one listens, or what report is credible. at the end of the day, it's sad that this is happening.i don't wish job loss on anyone.
That is assuming that when a car maker files for bankruptcy that all employment stops for the car maker and at all the second and 3rd tier suppliers. The truth of the matter is someone would come in and pick-up the profitable divisions. Bankruptcy also allows them to get out from the heavy burden of the UAW liabilities. Chrysler just went through Chapter 11 bankruptcy and most of those employees are still employed. I don't agree with the government bailing out GM and meddling with the Chrysler bankruptcy. Lets assume one million jobs lost at an average pay of 70K per year. At at 28% tax rate that is only 20 billion in lost tax revenue. That is very small compared to the hundreds of billions in bailout funds.
 
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i was going by what the newscasts, and press were stating at the time.the touchy area is when govn't becomes involved -- the odds are high that they will f*** things up.eventually, i think good will come from this.but, opinions vary. your point is good, in your last sentence.the way that i was looking at it was if govn't takes in less dollars, the shortfall has to come from somewhere. both are valid points. good post, junior.
 
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