DETROIT – Well, we knew they were going to bad and they were. Sales of new cars in the American market fell over 35 percent last month. The hardest hit automakers were Land Rover, Chrysler and Hyundai. The ones who suffered the least were Subaru, Audi and Volkswagen. According to Ward’s the annualized sales rate was only 10.2 million units.
But I see a silver lining in this. A month ago the sales rate was 10.1 million. And from November to December sales rose by nearly 148,000 units, a 20 percent increase. Does that mean the market hit bottom in November and is now inching up? Too early to tell, but I’m looking for any bit of good news I can find.
Those abysmal sales are probably what led Hyundai to start a new offer where customers can walk away from a car even 12 months after it was financed or leased through participating Hyundai dealers. The idea is to get people to buy new Hyundai’s even if they�??re afraid of losing their job.
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