Shock: Auto Sales Plummet

January 5th, 2009

For months we have known that sales were down. How could we forget? The automakers have been crying for a bailout. So…

U.S. auto sales plunged by 36 percent in December led by outsized declines at Chrysler LLC, Hyundai Motor (005380.KS) and Toyota Motor Corp(7203.T) as the battered industry closed out its weakest year since 1992 in its largest single market.

Chrysler’s sales dropped by 53 percent in December, a month when the automaker and larger rival General Motors Corp (GM.N) fought to clinch a $17.4 billion bailout from the U.S. government.

Meanwhile, Toyota, the global industry leader, posted a sales drop of 37 percent for the month, its worst U.S. sales decline since at least 1980.

Why is this news? Didn’t we already know it was going to be this bad?

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