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More grim auto sales numbers as Ford and Toyota post big losses in sales

Posted by Brian (aka trav007) Dec 2 '08, 10:11

Ford, Toyota post steep sales declines
By Shawn Langlois, MarketWatch
Last update: 12:37 p.m. EST Dec. 2, 2008

SAN FRANCISCO (MarketWatch) - Ford Motor Co. on Tuesday reported a 30.6% drop in November U.S. vehicle sales, which served as a timely reminder of the brutal sales climate with automakers returning to Capitol Hill in hopes of gaining access to $25 billion in loans.

Toyota Motor Corp. (TM 62.04, +3.48, +5.9%) , clearly no longer immune to the headwinds that have slammed the domestic automakers, posted an even steeper decline, down 33.9%.

At the same time, Ford (F 2.80, +0.25, +9.8%) , the first of the domestic automakers to make a second pitch for a federal lifeline, laid out plans to Congress to return to profitability by 2011.

GM 4.85, +0.26, +5.7%) and Chrysler LLC will hand in their plans as well as their sales results later in the day.

Is *anyone* buying cars these days? (www.marketwatch.com)

Responses:

will their stocks rise if they get a loan/bailout - seems cheap to buy in at this point - Epiphany Dec 2, 10:13 7
- There will need to be confidence that the bailout will actually do much more than buy time -- nm - con_carne Dec 2, 10:15 3
  - I mean a surge on just their bailout news - not long term -- nm - Epiphany Dec 2, 10:25 2
    - That's what I was meaning, too, unfortunately -- nm - con_carne Dec 2, 10:30 1
      - Gawd the markets are so reactionary right now -- nm - Epiphany Dec 2, 10:33
- what do you mean "will they"? look at the positive percentge gains in that post!....nm - x Dec 2, 10:15 2
  - even toyota is joining in the fun!...nm - x Dec 2, 10:15 1
    - true that -- nm - Epiphany Dec 2, 10:25

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More grim auto sales numbers as Ford and Toyota post big losses in sales

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