Crown Prince receives calls from British PM and French President    Saudi, U.S. foreign ministers discuss strategic ties and regional developments in Washington    Al-Jadaan: Arab countries must measure the impact of increasing financial pressures    Saudi Arabia to resume direct flights to Syria soon    Flights and ferries suspended across Greece as unions call 24-hour general strike    Saudi Arabia's Industrial Production Index down 0.2% in February    AlUla joins IMD World Smart Cities Index 2025    Riyadh's Malham Airport designated for general aviation operations    El Salvador says it shares gang intel with the US    Israeli soldiers reveal systematic destruction to create Gaza buffer zone    US-China rivalry over Panama Canal sparks tensions, leaving Panama caught in war of words    Macron announces potential recognition of Palestinian state in coming months    Sabiri strike gives Al Taawoun narrow first-leg win over Sharjah in ACL Two semi-final    Douglas Gauthier appointed CEO of the Royal Arts Complex in Riyadh's King Salman Park    King Abdulaziz Library unveils 400 rare Qur'an manuscripts    Nightclub collapse kills 79 in Dominican Republic's capital    Woman becomes first in UK to give birth after womb transplant    Women make up 20% of e-sports players in Saudi Arabia    Pakistani star's Bollywood return excites fans and riles far right    Saudi U-17s qualify for 2025 FIFA World Cup after win over Thailand    Benzema rescues Al Ittihad with stoppage-time equalizer in thrilling Jeddah Derby    Veteran Bollywood actor Manoj Kumar dies at 87    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Big carmakers post sales decline in '09
Published in The Saudi Gazette on 06 - 01 - 2010

Big automakers are glad to see the end of 2009, the worst year for US sales in nearly 30 years.
Ford Motor Co., Chrysler Group LLC, General Motors Co., Honda Motor Co. Nissan Motor Co., and Toyota Motor Corp. saw sharp declines for the year, but all said they had momentum to start 2010.
For most, 2009 was a rough year as credit froze, the economy and consumer confidence faltered and unemployment rose. U.S. sales for the full-year are expected to be their worst in nearly 30 years.
Sales of smaller, cheaper vehicles, however, helped drive gains for some manufacturers. Hyundai continued its surge with an 8-percent yearly gain, while its low-cost Kia brand reported 2009 sales gains of nearly 10 percent and a 44-percent gain in December.
Japanese automaker Subaru, which reported a 15 percent sales gain for the year, called 2009 an unqualified success.
General Motors and Chrysler took the biggest hits after both went through bankruptcy court and stayed alive with government aid.
For the year, GM sales were off 33 percent from 2008, while December sales fell 9 percent.
Chrysler sold only 931,000 vehicles for the year, its worst performance since 1962. The Auburn Hills, Michigan, automaker saw sales drop 36 percent for the year but down only 4 percent in December, far better than the double-digit drops the company reported earlier in the year.
Honda's sales were off 22 percent for the year but up 20 percent for December, while Nissan was up 18 percent for the month but down 19 percent for the year. Toyota sales were up a whopping 32 percent in December but down just over 20 percent for the year.
At Chrysler, December sales rose 36 percent over November, showing signs of some progress at showrooms but also helped by less-profitable sales to fleets such a rental companies and municipalities.
Ford Motor Co. said full-year sales declined 15 percent, but the company said it posted its first full-year gain in U.S. market share since 1995. It also reported a 33 percent increase in December sales thanks to strong demand for midsize cars like the Ford Fusion, whose sales rose 83 percent. The Ford Escape crossover, meanwhile, rose 75 percent.
Nissan's increase in December came from higher sales of its Versa compact car. Subaru, famous for small all-wheel-drive cars and sport utility vehicles, said 2009 was its best year ever for sales and market share.
The auto industry underwent a radical transformation in 2009, one of the most turmoil-filled years in its more than 100-year history.
Chrysler and General Motors, which both filed for bankruptcy protection after nearly collapsing, are still suffering as they struggle to revive sales and pay back huge government loans. Ford has been a relative bright spot. Total US auto sales, reported later Tuesday, are expected to drop to levels not seen for three decades.
Joblessness climbed over 10 percent and buyers stayed away from showrooms.
The last time sales were so low was in 1982, when 10.5 million cars sold during another bad recession.


Clic here to read the story from its source.