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Posts with tag: automakers | Return to DriversDrive.com Homepage
Auto Sales Plunged in September
Consumers are turning away from buying new cars as the nation's credit crisis deepends. Reuters reports a 26% drop in industry-wide auto sales
Major automakers reported plunging U.S. sales for September -- led by a 34 percent slide at Ford Motor Co -- as an escalating credit crisis hit the slumping industry and raised new doubts about when the world's largest auto market would stabilize.
The 26-percent drop in industry-wide auto sales was sharper than expected and coincided with a crisis on Wall Street that automakers said rocked consumer confidence and made it harder for remaining shoppers to finance vehicles.
Sales were down 24 percent at Honda Motor Co, 32 percent at Toyota Motor Corp and 37 percent at Nissan Motor Co. Chrysler LLC sales were down 33 percent.
GM beat out its rivals by having sales fall 16%. October isn't likely to be any better for automakers as the economy seems to be getting worse before it gets better. An AP story about the auto sales cites economists who say a bottom has not yet been reached. BloggingStocks reports that Ford Motor CEO Alan Mulally has warned of stagnant sales through 2009.
Posted on October 2, 2008
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Japanese Automakers Dominate Consumer Reports Auto Rankings
 The Associated Press reports that Japanese automakers have dominated the Consumer Reports auto reliability and survey rankings. The top ten picks by the magazine are all Japanese made vehicles. The Toyota Prius, a hybrid vehicle, was number one for the fourth straight year.
For the second time in 10 years, all the magazine's top-10 picks are Japanese nameplates. This year's list includes five new models: the Toyota RAV4, Infiniti G35, Toyota Sienna, Mazda MX-5 Miata and the Honda Fit.
The list features vehicles that performed well in Consumer Reports' tests, have at least average predicted reliability and adequate performance in government and insurance industry crash protection tests.
The Toyota Prius ranked as the most satisfying vehicle overall for the fourth straight year based on the percentage of respondents who said they would buy the same model again, according to the magazine's annual car owner satisfaction survey. The Chevrolet Corvette again came in second.
THere was some good news for U.S. automakers. According to the AP, "Seven domestic models made the top cut, compared with four last year." So that's a little bit of an improvement. More information about Consumer Reports choices can be found here on the magazine's website.
Posted on March 2, 2007
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