Toyota & Honda See December Decline

January 09, 2009
By: Robert Silverman

According to the Associated Press, December auto sales figures were quite surprising. Despite the financial trials and tribulations being experienced by the big three, it appears that two of the most dependable manufacturers, Toyota and Honda, ended up at the bottom of the heap.  Despite showcasing affordable, fuel-effective models, Toyota sales dropped 37 percent last month, and Honda was right behind with a 35 percent drop.

This is more than a matter of getting financing for interested consumers, says analysts, but rather it is a matter of finding interested consumers in the first place. They expect to see auto sales industrywide drop up to 40 percent.  According to Edmunds, It appears that auto sales figures are at their lowest level since 1992 as the Nation remains uncertain about the economy and employment. 

There is only one company who is announcing sales increases in 2008 in the United States.  Subaru of America said its US sales of the Impreza and Forrester models rose 0.3 percent this year, selling roughly 500 more cars this year than last. Not much to crow about, but it’s better than the alternative.

So, are there any winners when it comes to this sales disaster?  Absolutely.  As in the case of real estate, it is a buyer’s market, and if you have good credit, you can run the show.  Many manufacturers are continuing to offer vehicles at significant discounts, plus they are coupling these great deals with the always popular zero percent financing and significant incentives and rebates. In addition, there are still many 2008 models around, so you could save even more money by purchasing a leftover.  The rule of thumb as always is to shop around and educate yourself.  Lastly, we urge you to read your sales contract carefully before signing on the dotted line.  Happy shopping!


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