Chrysler Sept. sales seen down 36.5 percent

Posted on September 26th, 2008 • by Bill Cawthon

Chrysler will report September sales volume of 101,000 light vehicles, down 36.5 percent from the same month last year. That’s the forecast from Jesse Toprak, Executive Director of Industry Analysis for Edmunds.com, who predicts total industry sales will come in at 1.05 million cars and trucks, down not only 19.7 percent from September 2007, but 15.7 percent lower than August’s dismal results.

“February 1993 was the last time that fewer than one million new vehicles were sold in a month, and we’re coming remarkably close to that volume again,” observed Toprak. “Traditionally, October sales are even worse than they are in September, so we don’t likely have much to look forward to next month.”

Edmunds predicts all six of the major auto companies will finish the month in the red.

Ford’s estimated 137,000 sales will leave the Dearborn automaker 25.4 percent short of its September 2007 mark and 9.6 percent behind August 2008. With the continuation of its employee pricing promotion, Toprak thinks GM will do the best of the Detroit automakers. Total forecast sales of 255,000 units would represent a 23.9 percent deficit compared to September 2007 and a 17.0 percent decline from August 2008.

Toprak’s crystal ball show Toyota and Lexus combining for 176,000 sales this month. That would be a 17.5 percent decline from September 2007 and down 16.9 percent stumble from August 2008. American Honda is seen faring the best of the Big Six with sales down a comparatively small 6.1 percent from last year, but down a whopping, for Honda, 18.7 percent from August of this year. Edmunds looks for Nissan to report sales of 83,000 units in September, an 11.5 percent shortfall measured against September 2007 and a 23.1 percent plunge from August 2008.

The combined September market share for Chrysler, Ford and General Motors domestic brands is estimated to come in at 47.1 percent, an improvement over the 45.7 percent share recorded in August. Last September, the Detroit 3 claimed 51.9 percent of U.S. light vehicle sales.

“The automakers and dealers tell us the credit crunch is the number one reason for the drop in sales. People want to buy cars but can’t get financing,” said Michelle Krebs, Senior Editor of Edmunds’ AutoObserver.com. “Plus consumer confidence, which is waning in light of the near-collapse of the financial sector, is another critical factor that just isn’t there.”

Automakers will report September results next Wednesday.