| Automotive manufacturers are slated to report | | | | the proverbial "employee pricing." Only last |
| heavy declines in the month of August, the | | | | month GM reported a 27 percent drop in sales, |
| WSJ reports based on a study by JD Power. | | | | making it the lowest in the past 16 years. |
| Even though, the industry has induced | | | | |
| incentives to encourage sales but the | | | | Hardly any of the major auto manufacturers |
| forecast for the month is expected to be | | | | were spared from the clout of declining sales |
| discouraging. | | | | during the first two weeks of August. At the |
| | | | same time the figures of the Nissan Motor Co. |
| Estimates reveal that the sales would decline | | | | were better than the rest of the |
| to about 1.21 million vehicles. And as per | | | | manufacturers. |
| the seasonally adjusted annual rate the | | | | |
| estimated figure is 13.4 million vehicles, | | | | Meanwhile auto part makers can't let their |
| which is a good 2.8 percent down from August | | | | mind off the skyrocketing gas prices and |
| 2007 figure of 16.2 million vehicles. However | | | | tight credit, which is for the most part |
| it's still an improvement of 6.3 percent from | | | | responsible for the has led to the current |
| July. | | | | fiasco. |
| | | | |
| There's the expectation that the sales would | | | | As the downturn is expected to continue for |
| pick up the month comes to a close. The | | | | some time to come, and with the gas prices |
| reason is attributed to GM's 100th | | | | staying high, it seems that the UK and German |
| anniversary sales event, which means that | | | | consumers covet hybrids, as a recent study |
| many of its products would be up for sale at | | | | had revealed. |