Analysts: 2009 US Cars Sales to Total 11.5M Units
A fresh report came out today as the consulting firm CSM Worldwide estimated that the auto industry will sell approximately 11.5 million new cars and trucks in the next 12 months, according to Autonews citing the aforementioned forecast. This represents the lowest sales since 1982, Michael Robinette, vice president of forecast services with consulting firm CSM Worldwide, told the same source.
More importantly, even if the US Congress approves the loan package, the Detroit 3 are not out of the woods, the analysts said, especially if taking into account the fact that they simply destroyed their market image and lost consumer confidence for all their brands.
"You're looking at Detroit market share south of 45 percent next year in the U.S.," Robinette explained. "To have it all stop tomorrow isn't what the industry wants or needs. They need some lead time to work this through the system,” he added, explaining that a potential car czar would have to watch the evolution of the auto industry very carefully in case the loan is approved.
Detroit 3 future is still doubtful due to the fact that some GM, Chrysler and Ford representatives admitted that even if the Government agrees to aid the auto industry, sales may remain slow in the next year. More importantly, analysts predict that some of the affected companies, including Chrysler, may sell a bunch of their subsidiaries, such as Jeep, thanks to the fact that other financially-stable companies showed interest in them.