This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

September Auto Sales: A Bit More Hope

DETROIT ( TheStreet) -- Not surprisingly, September auto sales will show a dip, but it could be less dramatic than anticipated.

A forecast by Santa Monica, Calif.-based TrueCar, which aggregates vehicle sales information, suggests that September sales will decline 7% from September 2008 and 29% from August 2009, when Cash-for-Clunkers energized auto sales. A total of 899,374 units would bring domestic auto sales to a seasonally adjusted annual rate of 11.1 million units.

"As expected, new-vehicle sales are down dramatically from August, but the declines will not be as bad as it looked at the beginning of the month," said Jesse Toprak, TrueCar vice president of industry trends, in a prepared statement. "Fundamental macroeconomic forces that fuel car sales have shown relative improvement within the last several weeks, although we are still a long way from a full recovery." He said domestic manufacturers' market share will be a record low 40.2%.

The month's winners were Nissan (NSANY) , with sales up 27% from September 2008; Honda (HMC - Get Report), with a 13% increase, and Ford (F - Get Report) and Toyota (TM - Get Report), each up 12%, TrueCar estimates.

Meanwhile Chrysler is showing a 41% decline while General Motors is expected to show a 40% decline. Every manufacturer showed a decline from August 2009: Ford showed the smallest decline, down 26%.

As for market share, Toyota showed the biggest increase from September 2008, with an 18% share, up 3%. Ford was second with a 2.3% increase to a 14.2% share.

-- Written by Ted Reed in Charlotte, N.C. .

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
NSANY $21.59 0.00%
F $15.90 0.00%
HMC $36.22 0.00%
TM $140.66 0.00%
AAPL $132.65 0.00%

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs