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‘08 car sales plunge to 16-year low

Posted by Editor in January 6th 2009

Sales of automobiles across the country plummeted in December and in all of 2008 to levels not experienced in 16 years, according to monthly and annual sales figures released by automakers yesterday. Cars, trucks, sport utility vehicles, crossovers, hybrids, domestic, imported - all declined dramatically last year as crippling oil prices tag-teamed with a stifling credit market and the global financial meltdown to quash consumer interest in new vehicles. For 2008, U.S. sales were down from the year before for Chrysler LLC by 30 percent, for General Motors Corp. by 28 percent, for Ford Motor Co. by 22 percent, for Toyota Motor Corp. by 15 percent, and for Honda Motor Co. by 8 percent. GM sold…

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