Honda and Toyota sales drop more than GM in Sept

[blownz]

Crazy.



Bloody September: Toyota, Honda swoon, GM dips 'only' 15.6 percent
By WES RAYNAL

September car sales were just nasty. Toyota sales fell 32.3 percent, as even the Camry was down last month.

You know it’s trouble when even Toyota sales are down and indeed, with its 32.3 percent decline in sales, Toyota Motor Sales U.S.A. in September turned in one of the worst performances in its 50-year history in the United States. Toyota sold 81,282 vehicles last month, down from 125,007 in September 2007.

Even industry darling Honda was down, with American Honda’s September sales off 24.0 percent compared with the same period last year.

Honda’s September sales totaled 86,629, a result company officials blame on jittery consumers. Yikes!

“This month was an incredibly volatile month for Wall Street,” Dick Colliver, Honda’s executive vice president for sales, said in a statement. “Obviously, no one is immune to market shifts as dramatic as we are seeing.”

Heck, General Motors looked like a winner compared with Toyota and Honda. GM’s sales only fell 15.6 percent, and that number blew away most of the industry.

Even though 15.6 percent is still ugly, GM’s decline was less than most other automakers, and the General posted its best monthly market share of the year at 27 percent.

Saturn was GM’s best-performing division, with just a 10 percent decline.

Kia Motors America saw a 27.8 percent decrease in September unit sales from 2007, although its year-to-date passenger-car sales are up 17.2 percent from 2007.

Mazda North America reported a 35.6 percent decrease in September unit sales from 2007. But its 2009 Mazda6 arrived at dealerships in September and exceeded the company’s sales objectives, with 3,694 vehicles sold.

[A790]

Just... wow.

[benyl]

It is only the beginning.

[treg50]

Not surprising but still scary to hear about. People's investments/retirement funds are tanking. The last thing they want to do is throw tens of thousands of dollars down the drain into a brand new car.

[C4S]

So .. everyone is buying GTR now .. but not Civic/Corolla/Fit/Yaris?? :eek:

[Sorath]

maybe in the states?

we did pretty good last month

[treg50]

^ Yup, good point it's in the U.S.

Originally quoted by blownz
...Toyota Motor Sales U.S.A. in September turned in one of the worst performances in its 50-year history in the United States.

Doesn't someone here always post auto sales data for all manufacturers? Would be interesting to see exactly they're doing in Canada's by comparison?

[Mr_ET]

Everything is tanking in the states so this is not that surprising.

We are simply watching the end of their reign at the top of the food chain. Let's see how China will do:cry:

[ExtremeSi]

Wow that's quite a large drop from just last year!

[blownz]

The Edmonton Journal had an aritcle about this that included numbers for a few other companies:


Vehicle sales at the six largest auto-makers in the United States tumbled 27 per cent collectively in September from a year earlier, an almost unprecedented drop that caps the longest U.S. industry-wide sales slide in 17 years.

Nissan Motor Co. plunged 37 per cent. Ford Motor Co. dropped 35 per cent. Chrysler LLC slid 33 per cent, while Toyota Motor Corp. and Honda Motor Co. declined 32 and 24 per cent, respectively. General Motors Corp. fared better than expected, losing 16 per cent as employee-pricing discounts helped boost dealership traffic.

The article mentioned industry wide Canada was up 1.7% in Sept but nothing more detailed than that.



Funny thing is I know someone trying to buy six brand new MB GL550's from the US and every dealer he has tried has refused to even sell for 1k below msrp. :dunno:

[C4S]

Interesting ..

The other way around in Canada .. record high in sept for Toyota .. up 15% ..

http://news.sympatico.msn.ca/Business/ContentPosting?newsitemid=68940035&feedname=CP-BUSINESS&show=False&number=0&showbyline=True&subtitle=&detect=&abc=abc&date=True

:dunno:

[Redlyne_mr2]

GM really has nowhere to go but up, so there is not way they could ever incur a 30% reduction in sales without having to shut their doors.

[blownz]

^ I just heard from one of our wholesalers that some guy that owns 14 GM dealers in the US just shut the doors yesterday. This slowdown may be good for GM/Ford/Chrysler as they have way too many dealerships already and this slow down should clean things up a bit.

[Xtrema]

Originally posted by blownz
^ I just heard from one of our wholesalers that some guy that owns 14 GM dealers in the US just shut the doors yesterday. This slowdown may be good for GM/Ford/Chrysler as they have way too many dealerships already and this slow down should clean things up a bit.

http://www.autoblog.com/2008/10/01/bill-heard-chevrolet-files-chapter-11-owes-229-million/

Chapter 11, owes $229M, sued by everyone.

[ae92gts]

I am not to sure about, this but one of the sales men that sold my parents there new accord this september from TT Honda, was saying that TT Honda is the #1 selling dealership in canada.

Does anybody know if this is true or not? or is it just another salesmen lie?

[Deetz]

Besides those being US stats, car sales as a whole there has dropped off with the large increase in fuel costs. With the auto sales decline, popular brands like Honda/Toyota see more of a hit as they had so much market share to lose.

[pinoyhero]

Wow, weird story, wonder if it has to do with increased levels of patriotism and/or the fact that domestic cars can be had cheaper in most cases.

[heavyD]

Originally posted by ae92gts
I am not to sure about, this but one of the sales men that sold my parents there new accord this september from TT Honda, was saying that TT Honda is the #1 selling dealership in canada.

Does anybody know if this is true or not? or is it just another salesmen lie?

It's probably true. Calgary is probably the Honda capital of North America.

[R!zz0]

I agree with Sorath.

Everything in the States is going down. Doesn't not surprise me.

Edit: GM and Ford can not afford to go down anymore...It wont hurt Toyota or Honda that much.

[heavyD]

Originally posted by R!zz0
It wont hurt Toyota or Honda that much.

You think Toyota and Honda are immune to hardship when they are experiencing 30% decreses in sales? You obviously don't know how things work in the world of business.:facepalm: Canadian sales are sweet fuckall compared to US for all auto manufacturers.

[Redlyne_mr2]

Originally posted by ae92gts
I am not to sure about, this but one of the sales men that sold my parents there new accord this september from TT Honda, was saying that TT Honda is the #1 selling dealership in canada.

Does anybody know if this is true or not? or is it just another salesmen lie?
Sounds right.

[blownz]

Originally posted by Xtrema


http://www.autoblog.com/2008/10/01/bill-heard-chevrolet-files-chapter-11-owes-229-million/

Chapter 11, owes $229M, sued by everyone.

That is the one. And I was off by one. lol

There will definitely be more like this. But like I mentioned before it will probably be a good thing for the manufacturers once the dust settles.




Originally posted by ae92gts
I am not to sure about, this but one of the sales men that sold my parents there new accord this september from TT Honda, was saying that TT Honda is the #1 selling dealership in canada.

Does anybody know if this is true or not? or is it just another salesmen lie?

Maybe #1 Honda dealer but I would doubt it is the #1 dealership in Canada out of all the brands. It would definitely be a GM/Ford/Chrysler/Dodge/Toyota dealer that would be #1 for new sales imo.

[Xtrema]

Originally posted by R!zz0
It wont hurt Toyota or Honda that much.

Domestic is getting a $25B bailout. May be more.

Fanboys only accounted for only a fraction of sales. And if the current Accord is any indicator, the "imports" are getting more in-line with domestics offerings. And not surprising because they share a lot of suppliers.

[Sorath]

he meant in canada, we are the #1 dealership in canada. Only in august we came 2nd in the country to a dealership in ontario other than that we've topped out

[blownz]

^ again #1 Honda dealer? Or out of all manufacturers? I just find it hard to believe they could be #1 out of all manufacturers.

What was the total new car sales for the year in 07 for T&T?

[benyl]

Originally posted by R!zz0

Edit: GM and Ford can not afford to go down anymore...It wont hurt Toyota or Honda that much.

Toyota is offering 0% financing in the states. That is unheard of. Last time that happened was right after the September 11th attacks.

The Truck plants have been idle for weeks. Toyota's workers are cleaning up garbage in texas towns.

Yup, they aren't hurting at all.

[rc2002]

Hopefully those 0% rates carry up into Canada soon. I'm looking to pick up a new car and the rates are garbage right now.

[benyl]

yup, I am thinking of getting a Tundra or Sequoia...

[Sorath]

Originally posted by blownz
^ again #1 Honda dealer? Or out of all manufacturers? I just find it hard to believe they could be #1 out of all manufacturers.

What was the total new car sales for the year in 07 for T&T?

no for honda

it was like 2700+ for NEW cars if i remember correctly

[Sorath]

Originally posted by richardchan2002
Hopefully those 0% rates carry up into Canada soon. I'm looking to pick up a new car and the rates are garbage right now.
wont ever happen, canadian banks wont allow it.

[SilverRex]

anyways

does anyone know any banks offering lower than 6.9% 60 month car loan financing

[Sorath]

u can do it 2 ways. td has variable rates of 6.0-6.5 or they have a secured line of credit for 4%

[SilverRex]

yeah well secured line of credit, is that for the car or having ownership of a house?

[benyl]

Originally posted by Sorath

wont ever happen, canadian banks wont allow it.

What does it have to do with the bank? Toyota has its own financial arm.

[Xtrema]

Originally posted by SilverRex
yeah well secured line of credit, is that for the car or having ownership of a house?

HELOC - % of home equity available to you at a low rate.

Say your house is appraised at $300K. You have a mortgage of $200K. You have equity of $100K. They usually let you borrow 80% so you will have access to $80K of interest only loan @ prime to buy whatever you want.

This is usually the cheapest option other than manufacturer specials which only apply to new cars.


Originally posted by Sorath

wont ever happen, canadian banks wont allow it.

Why? GM had 0% in Canada before. And Toyota and Honda both had 0.9% before as well but usually on stuff that ain't moving like trucks and vans.

[Sorath]

like the housing market in calgary, its harder to get approved for a car loan now as well. the market has changed, canadian banks dont want to go through the same process as the banks in the US

[SilverRex]

Originally posted by Sorath
like the housing market in calgary, its harder to get approved for a car loan now as well. the market has changed, canadian banks dont want to go through the same process as the banks in the US

what about going to a dealership and trying to get approved for lease or finance. Would that be just as difficult as going to bank for a car loan? or because of the relationship between the dealership and its finance partner, they both wanted business and so it would be easier than going to a bank

I dont know if this is a catch twenty two where right now with the crashing of the market and slowing down of the housing. One has to wonder which is true. Would dealership be incline to offer better incentive and approve your purchase easier for the quick sale or would they be afraid of the credit crsis down south and deny all possible risk unless one has the cash to buy it out right.

hmmm

[Sorath]

naw, car manufacture finance companies know they gotta back the dealers, sometimes u might not be able to get financing from your bank but you are able to get financing from the dealership, usually the dealership is more lenient, they dont look at certain things.

as far as everything goes, i dont think it it`ll affect us too much, from the beginning its always been harder to get approved for anything in canada than the US. Overall i dont think it`ll change much

[blownz]

Originally posted by Sorath


no for honda

it was like 2700+ for NEW cars if i remember correctly

Definitely impressive! :thumbsup:

[01RedDX]

.

[max_boost]

If you have good credit, you'll still get approved. I've held off on buying a new car because the economy has got me tightening things up. I'll ride this one out.

[rc2002]

[rc2002]

Originally posted by 01RedDX
Both U.S. and European auto sales are plummeting right now after being flat for the last year or so.

Bad sign for manufacturers, good sign for Canada, it means our economy really is more insulated from the worldwide slump.

I wouldn't be so quick to say that. We might just be a few months behind the rest.

[Xtrema]

Originally posted by richardchan2002


I wouldn't be so quick to say that. We might just be a few months behind the rest.

Werd. I don't think the worse is here yet. I hope the analysts are wrong about the $50 oil as they were with $200 oil.

There's isn't a lot of room left before projects go on hold and halt spending in this city.

[01RedDX]

.