U.S. automakers are expected to report big declines in August domestic sales despite stepped-up incentives, reports the Wall Street Journal citing a report by J.D. Power & AssociatesStill, J.D. Power & Associates expects sales in the closing days of the month to improve because of GM's 100th anniversary sales event, which offers the ever-popular "employee pricing" incentive on most vehicles and cash rebates on selected light trucks.
The report, which is based on sales through August 17th, estimates sales for the month will come in at around 1.21 million vehicles, or 13.4 million vehicles on a seasonally adjusted annual rate. That is down from the August 2007 seasonally adjusted rate of 16.2 million vehicles, but up 6.3% from July.
In July, U.S. auto sales fell to a 16-year-low led by a 27% drop at General Motors.
Sirius-XM highlight that the increased penetration rate of satellite radio offset any declines in auto industry sales.
But the tailspin in auto-sales caused by high gas prices and tight credit is undoubtedly top of mind for the company as we approach the fall. With new radios over the horizon, let's see if we can gain some momentum in Holiday retail sales.
[Wall Street Journal]
The report, which is based on sales through August 17th, estimates sales for the month will come in at around 1.21 million vehicles, or 13.4 million vehicles on a seasonally adjusted annual rate. That is down from the August 2007 seasonally adjusted rate of 16.2 million vehicles, but up 6.3% from July.
In July, U.S. auto sales fell to a 16-year-low led by a 27% drop at General Motors.
Sirius-XM highlight that the increased penetration rate of satellite radio offset any declines in auto industry sales.
But the tailspin in auto-sales caused by high gas prices and tight credit is undoubtedly top of mind for the company as we approach the fall. With new radios over the horizon, let's see if we can gain some momentum in Holiday retail sales.
[Wall Street Journal]
Lets see how Chrysler does with their in car Wifi offerings.
I think you can offer all the incentives you want, but for the most part the American consumer is broke and can't afford to borrow any more. Many people fear for their jobs, so buying a car is not really on the radar.
We are going to go through some pretty tough times and let the economy recover. I wouldn't want to be a car salesman right now.
If SiriusXM has a chance they better move up the synergy plans and get the next generation service and radio's into consumer hands. Most of the satradio sales controlled by the auto industry is not a very good way forward for SiriusXM. Ryan perhaps put up a count-up graphic so we can all see the time line since the merger announcement and count every day that SiriusXm is doing nothing to better the corporation and doing nothing to better serve it's subscribers.
Anonymouns,
Where do you get your information? Sirius XM haven't even had a month together. What exactly were you expecting to happen in the 3-4 weeks since the merger? Maybe you should wait until after the next stock holders/profit call before making claims you know nothing about.
Why are you NAB people still here?