1. #1
    Forum Member
    DaSharkie's Avatar
    Join Date
    Jun 2000
    Posts
    4,713

    Default Nothing Like Wasting $2,000,000,000 By the Feds.......

    Well, it seems that the morons in D.C. did absolutely nothing more than waste $2,000,000,000 of our money as a nation and adding it to our debt and deficit.

    Car sales dropped 41% overall in September after the ridiculous boondoggle that was Cars for Clunkers.

    http://www.msnbc.msn.com/id/33123123...stry/33122449/

    MSNBC.com


    Auto sales tumble after rush from ‘Clunkers’
    GM posts steepest drop in September after government offer ends
    The Associated Press
    updated 9:00 p.m. ET, Thurs., Oct . 1, 2009
    NEW YORK - U.S. auto sales fell sharply in September, enduring a tough hangover from this summer's buying spree driven by big discounts to consumers.

    U.S. sales of cars and light trucks fell to just under 746,000 in September, down 41 percent from August.

    Both GM and Chrysler were the biggest losers last month, while Ford, the healthiest of the Detroit Three, reported the smallest drop of major automakers. Of the top companies, only Hyundai posted higher sales, up 27 percent from September 2008.

    Last month's slump brings car and truck makers back to earth following a heady August. Automakers got a lift from clunkers, which spurred sales of nearly 700,000 new vehicles during the summer months. Big rebates lured in many buyers who otherwise would have waited until later in the year to walk into dealerships.

    Still, both GM and Ford said the clunkers letdown should pass by next month. They also forecast a slight recovery in sales with signs of economic improvement.

    October, however, is traditionally a slow month for sales. On top of that, shoppers are guarding their wallets, worried about keeping their jobs in a fragile economy. The question remains whether dealers can really lure them back and help the industry recover over the remainder of the year.

    Higher incentives didn't shake buyers from their September slumber. Automakers spent an average of $2,557 per vehicle in the U.S., up $83 from August, according to the auto Web site Edmunds.com.



    "After five straight months of decline, incentives are on the rise again," Edmunds analyst Jessica Caldwell said. "Now that Cash for Clunkers is over, automakers have to give consumers an incentive to buy — out of their own pockets, not the taxpayers'."

    Ford Motor Co.'s sales fell 5.1 percent, but the decline followed two straight months of rising sales. Two of the Dearborn, Michigan company's vehicles — the Focus and Escape — were top sellers in the clunkers program.

    General Motors Co.'s sales plunged 45 percent while Chrysler Group LLC's fell 42 percent. The weak results continued a string of monthly sales drops for the troubled pair. Now the question is whether their government-funded recovery plans are working.

    Sales fell in every GM division. Saturn led the way with an astounding 84 percent decline in September, the same month GM announced plans to abolish the brand after its sale to former race-car driver Roger Penske collapsed.

    "It was a more difficult month than we anticipated," said Mark LaNeve, GM's vice president of U.S. sales.

    A spokeswoman for the U.S. Treasury Department, which has provided roughly $65 billion to keep GM and Chrysler going, would not comment on the sales figures.

    Most automakers reported low inventories during September but said production increases were starting to replenish them.

    GM's LaNeve said last month sales were compared with a strong September in 2008 when GM offered employee discounts to every customer in celebration of its 100th birthday. With easier comparisons, October will show better results.


    He said the company could have had stronger September sales but it was struggling to keep up with demand for newly launched vehicles such as the Buick LaCrosse sedan, Chevrolet Camaro sports car, and the Chevrolet Equinox crossover vehicle. GM could have sold 10,000 to 12,000 more car and light trucks had it been able to get them to dealers in September.

    Japan's Toyota Motor Corp. said sales fell 13 percent while Nissan Motor Co. said its sales eased 7 percent. Honda's sales dropped 20 percent.

    Toyota blamed its sales drop on low stocks, and also said it was confident of a recovery through the rest of the year.

    Automakers also reported that luxury car sales were starting to show life, another sign of recovery. Toyota's Lexus line saw a 12 percent sales increase in September, which the company attributed to several new model launches.

    Last month's sales, if projected for an entire year, dropped to 9.2 million vehicles, far less than the clunker-fueled 14.1 million reported in August, according to Autodata Corp.


    © 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
    URL: http://www.msnbc.msn.com/id/33122449/ns/business-autos/



    MSN Privacy . Legal
    © 2009 MSNBC.com
    "Too many people spend money they haven't earned, to buy things they don't want, to impress people they don't like." Will Rogers

    The borrower is slave to the lender. Proverbs 22:7 - Debt free since 10/5/2009.

    "No man's life, liberty, or property are safe while the legislature is in session." - New York Judge Gideon Tucker

    "As Americans we must always remember that we all have a common enemy, an enemy that is dangerous, powerful and relentless. I refer, of course, to the federal government." - Dave Barry

    www.daveramsey.com www.clarkhoward.com www.heritage.org

  2. #2
    Forum Member

    Join Date
    Dec 2005
    Location
    IL
    Posts
    459

    Default

    Quote Originally Posted by DaSharkie View Post
    "Now that Cash for Clunkers is over, automakers have to give consumers an incentive to buy — out of their own pockets, not the taxpayers'."
    Ummm... if GM is involved it is the taxpayers paying for it. I guess they forget where the money comes from.

  3. #3
    Forum Member
    DaSharkie's Avatar
    Join Date
    Jun 2000
    Posts
    4,713

    Default

    Quote Originally Posted by S8ER95Z View Post
    Ummm... if GM is involved it is the taxpayers paying for it. I guess they forget where the money comes from.
    Quite true. In the article it notes that GM and Chrysler dropped over 40% in sales between August and September. Both took bailouts, Chrysler's is repaid while GM's will be owed for a very long time. I won't even consider a GM vehicle until after our government has gotten its mitts out of the automotive industry.
    "Too many people spend money they haven't earned, to buy things they don't want, to impress people they don't like." Will Rogers

    The borrower is slave to the lender. Proverbs 22:7 - Debt free since 10/5/2009.

    "No man's life, liberty, or property are safe while the legislature is in session." - New York Judge Gideon Tucker

    "As Americans we must always remember that we all have a common enemy, an enemy that is dangerous, powerful and relentless. I refer, of course, to the federal government." - Dave Barry

    www.daveramsey.com www.clarkhoward.com www.heritage.org

  4. #4
    Banned

    Join Date
    Jan 2008
    Posts
    8,677

    Default

    Well there you have it. Another failure by this administration. Oh BTW, Unemployment is up as well. Iran is building Nukes, Afghanistan and Iraq military operations are a mess. And where is our President. Off fighting to get the Olympics in Chicago SCARY!!!!!

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. Help me avoid wasting your time
    By Probotics in forum Firefighters Forum
    Replies: 7
    Last Post: 02-16-2006, 09:40 AM
  2. Wasting time & resources????
    By Dave1983 in forum The Off Duty Forums
    Replies: 14
    Last Post: 10-16-2005, 07:41 AM
  3. New Jersey Season not wasting any time
    By AsstEngineer292 in forum Wildland Firefighting
    Replies: 8
    Last Post: 04-24-2005, 10:48 PM
  4. Wasting you time?
    By CaptBob in forum Hiring & Employment Discussion
    Replies: 0
    Last Post: 05-28-2004, 08:24 AM
  5. Wasting $$$ on Chrome for your Engine
    By Sonny Sampson in forum Firefighters Forum
    Replies: 3
    Last Post: 01-20-2001, 09:35 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts

Log in

Click here to log in or register