Chrysler May sales seen down 51 percent

While actual numbers won’t be reported until later today, a group of analysts polled by Bloomberg News is looking for Chrysler sales to be down by more than half from May 2008.

Individual estimates range from 45 percent forecast by Rod Lache of Deutsche Bank to a grim 59 percent envisioned by John Wolkonowicz of Global Insight. The average of the predictions was 51 percent.

Estimates for total light vehicle sales are looking for results about 35 percent off from May 2008, giving the auto industry its worst five-month start in 33 years. The Bloomberg panel estimates of the seasonally adjusted annual sales rate (SAAR) ranged from 8.8 million to 9.45 million with an average of 9.2 million. Gary Dilts, the former senior vice president of sales at Chrysler who is now working with J.D. Power, predicted a relatively optimistic SAAR of 9.4 million units.

Chrysler was outperforming the market up to the middle of the month but was unable to sustain the pace after abruptly cutting 789 dealers from its ranks.