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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (46136)	2/3/2009 6:37:35 PM
From: elmatador	Respond to of 217596

on liquidations Message 25314881

To: TobagoJack who wrote (46136)	2/3/2009 9:57:06 PM
From: 8bits	Read Replies (1) \| Respond to of 217596

US car sales fall below China’s for first time By John Reed in Detroit Published: February 3 2009 20:58 \| Last updated: February 3 2009 20:58 US car sales fell to their lowest level since 1963 in January – and were less than China’s on an annualised basis for the first time – as rental fleets and consumers bought fewer vehicles in spite of steep industry discounts and government efforts to ease lending. General Motors’ monthly sales fell 49 per cent and Ford Motor’s – including vehicles made by Volvo, its Swedish premium brand – dropped 40 per cent. “This is the first time in history China has surpassed the US,” said Michael DiGiovanni, GM’s head of global sales and industry analysis. GM estimated the industry’s annualised selling rate for cars at 9.8m in the US in January, down from 10.3m in December, and less than China’s estimated annualised selling rate of 10.7m last month. The slide in sales will intensify the pressure on Detroit’s carmakers, which are scrambling to avoid bankruptcy. GM and Chrysler are working on restructuring plans due by February 17 as conditions of their $17.4bn emergency government loans. It comes in spite of steep incentives offered by manufacturers last month, including employee pricing deals and an infusion of federal cash to the carmakers’ lending arms. GMAC, GM’s financial services arm, and Chrysler Financial are accessing a total of $7.5bn of troubled asset funds. GM and Ford attributed much of the slide in sales to sharply lower purchases by fleets. Car rental companies typically take vehicles on just-in-time delivery, and most US car plants were idle for much of last month on extended holiday shutdowns. Ford, which is not receiving emergency aid, also said that total car sales in the US slipped below an annual rate of 10m last month, as did Chrysler. “Today we’re at the vortex of the economic downturn and it’s difficult to talk about recovery,” said Emily Kolinski Morris, Ford’s senior economist. However, she added that the Federal Reserve’s policy actions were beginning to have an impact on market conditions. “There are some faint signals emerging that we may be nearing the bottom,” Ms Morris said. The rout in the US car market extended last month to virtually all manufacturers, including Toyota, whose sales in January fell 32 per cent. Porsche and Daimler’s Mercedes-Benz Cars unit both reported a 36 per cent drop in sales. Volkswagen sold 12 per cent fewer cars in the US last month. Copyright The Financial Times Limited 2009 ft.com

To: TobagoJack who wrote (46136)	2/4/2009 12:42:11 PM
From: gg cox	Read Replies (1) \| Respond to of 217596

Your post has a tinge of second world war history. What will the consequences be from the 20 million who have had a taste of a better paying job, living conditions, motor bike and support money sent back to village$ Will they return disappointed but with good humor? Human nature dictates, that when they have a taste of, better way, they want more... billion eyes watching. Dark clouds forming as in last sentence of article.. "The Government says it fears the rise in unemployment could lead to social instability." A chicken in hand, better than panda in pocket...maybe<g>