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Hyundai sales drop 25.4%
Hyundai said today that its September sales dropped 25.4%, to 24,765 vehicles, because of the nation’s economic troubles and a crisis in consumer confidence. Hyundai’s Accent performed relatively well, with sales declining just 3.4% to 3,014 units, and sales of Hyundai’s Sonata increased 31.7%, to 8,629. However, sales of Hyundai’s Elantra fell 48.6%, to...
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Bush approves $25 billion loan package for auto makers
WASHINGTON (Reuters) – President George W. Bush on Tuesday signed into law a mammoth spending bill to keep the government running until early March 2009 that includes a $25 billion loan package for troubled automakers. The action came after the Senate over the weekend gave final congressional approval to the more than $630 billion...
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US auto sales take a beating
DETROIT, Michigan (AFP) — US auto sales took a beating in September as the nation’s worsening economy turned dealer showrooms into ghost towns and major automakers reported sales drops of up to 37 percent Wednesday. While sales have been slipping all year, automakers reported a sharp drop-off in sales in the last ten days...
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Brazil’s auto sales rise in September-retailers
BRASILIA, Oct 1 (Reuters) – Brazil’s auto sales jumped back strongly in September and are headed for a record this year despite a slump the month before, the auto distributors federation Fenabrave said on Wednesday. Auto sales rose to 268,735 units in September, an increase of 9.78 percent from August and 31.71 percent from...
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Wall Street Crisis Helps Send US Auto Sales To New Lows
DETROIT -(Dow Jones)- U.S. auto sales careened to a near standstill at the end of September as Americans fixated on the crisis on Wall Street, leading auto makers to post dismal sales figures for the month. Auto makers have struggled all year to attract buyers shocked by soaring fuel prices and tanking home values,...
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First Cash Financial to exit auto lending business
NEW YORK (Associated Press) – First Cash Financial Services Inc. said late Tuesday that it plans to shutter its auto lending operations and focus on its core pawn and consumer lending operations in the U.S. and Mexico. The company expects the business to be sold or liquidated over the next 12 months. As a...
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US auto sales plunge as financial crisis takes its toll
Major automakers have reported plunging US sales for September – led by a 34% slide at Ford Motor Co – as an escalating credit emergency slammed a slumping industry and raised new doubts about when the world’s largest auto market would hit bottom. The downturn in auto sales for September coincided with a crisis...
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