Sales are have not improved for domestic automakers even with government help and steep discounts. Reports show that annualized US car sales slipped below 10m last month.
General Motors’ monthly sales of cars and light trucks fell by 49 per cent last month, Chrysler’s by 55 per cent and Ford Motor’s by 40 per cent, including vehicles made by Volvo, its Swedish premium brand.
The expectation is that we may be reaching the bottom soon, but I expect we still have a little ways to go before we start to see the market improve.
Source:Financial Times.
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