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