GM Cuts 2009 Total U.S. Sales Forecast By 1.5 Million Vehicles
General Motors predicted today that 10.5 million vehicles will be sold in the U.S. in 2009, down from its earlier estimate of 12 million, reflecting the ongoing recession and consumer concern about a potential bankruptcy among Detroit's Big Three automakers.
(The figure represents a prediction of all vehicles sold by all automakers in the U.S. this year, not just vehicles made by GM.)
About 16 million vehicles were sold in the U.S. in 2007, a figure that dropped to 13.2 million last year.
The 10.5 million figure represents what GM once termed the "worst-case" scenario for 2009.
At least so far.
GM predicts nearly 58 million vehicles will be sold worldwide.
Earlier this week, Ford lowered its 2009 U.S. sales prediction for the year to 12 million to 12.5 million, from a range of 12.2 million to 12.5 million, Bloomberg reported.
January 15, 2009; 2:32 PM ET
Categories: The Ticker | Tags: Detroit bailout, Ford, GM, automakers
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