Ford Motor (F - commentary - Cramer's Take) said it sold 43,087 North American-made cars and 90,418 light trucks in December, which is roughly as expected. Expectations are for industrywide sales of North American-made vehicles to have run at a pace of 7.5 million vs. November's rate of 7.6 million, which would be the slowest such pace since October 1982.
Total industrywide sales, which include imports, are expected to have run at a pace of 10.0 million compared with 10.2 million in November; that would also mark the slowest pace since October 1982.
The infusion of capital into General Motors' (GM - commentary - Cramer's Take) GMAC unit by the U.S. Treasury seems likely to boost sales in the time ahead, as the infusion will provide fresh capital for lending. Car sales therefore probably have reached a bottom, at least for now.
P.S. Will you be there when Cramer makes his next move?
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Tony Crescenzi Blog Long-Dated Treasury Yields Up Again 1/5/2009 9:41 AM EST However, short-dated Treasuries are seeing only small increases.
Tony Crescenzi Blog Turn on the Water Works 1/2/2009 2:51 PM EST The water industry will see strong growth.
Tony Crescenzi Blog Mortgage Rates Set to Drop Below 5% 1/5/2009 11:55 AM EST The rally in the mortgage-backed securities market is helping to drive mortgage rates lower.
Tony Crescenzi is the chief bond market strategist at Miller Tabak + Co., LLC, and advises many of the nation's top institutional investors on issues related to the bond market, the economy and other macro-related issues. At the request of the Federal Reserve, Crescenzi is a regular participant in the board's Livingston Survey of economic forecasters. He is also the author of the revised investment classic, The Money Market,
first published in 1978 by Marcia Stigum, and The Strategic Bond Investor. At the time of publication, Crescenzi or Miller Tabak had no positions in the securities mentioned in this column, although holdings can change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Crescenzi also is the founder of Bondtalk.com, a popular Web site covering the bond market and the economy. Crescenzi appreciates your feedback; click here to send him an email.
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