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Re-activateSo far, this year has been a rollercoaster ride for the auto industry, with ups, down, twists, and plenty of stomach turns. Sales figures announced for April show it continues to be a rough time. Overall, sales for all major brands dropped again from this time last year—in many cases, precipitously.
Chrysler fared the worst of the Detroit 3, with a 48 percent drop in sales. General Motors was down 34 percent from last year and Ford was down 31 percent. Asian manufacturers didn't fare much better with Toyota down 42 percent and Honda 25 percent. Mitsubishi had a 55 percent decrease over last year with sales of just under 4,000 vehicles for the month.
However, there is some good news for U.S. automakers despite Chrysler heading to bankruptcy. GM had an 11 percent increase in sales from March to April and Ford has shown an increase in the market share. Propelled by record sales of the new Fusion and Fusion hybrid, Ford passed Toyota to become the number-two car seller in the U.S. Another reason for Ford's success could be due to their better public standing because of their refusal to accept federal aid, according to a survey by the Aloft Group.
Toyota is looking towards the roll out of its redesigned 2010 Prius, which goes on sale near the end of June, to help bring their numbers back up. The current Prius model had a 62 percent drop in sales compared with April 2008.
Declining sales may be bad for the automakers, but are good news for car buyers as manufacturers announce incentives to drive up sales. Check our best new deals for a list of customer rebates on vehicles recommended by Consumer Reports. For timely buying advice, read our blog on how to buy in today's market.
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