US auto market plunges 36 per cent in December

06 January 2009

Vehicle sales in the US plunged 36 per cent to a 16-year low in December as the recession hit demand with almost all major carmakers reporting annual sales declines of over 30 per cent amid recession and tight credit.

Vehicle sales at General Motors Corporation fell 31 per cent in December, hitting a 49-year low. GM's annual domestic sales was also the lowest since 1959.

Toyota Motor Corporation and Honda Motor Co also reported a 36 per cent drop in December sales, registering the first full-year drop in sales since the mid-1990s.

Chrysler sales dropped 53 per cent in December while Ford Motor Co slumped 32 per cent and Nissan Motor Co fell 31 per cent.

GM's 2008 US sales of light vehicles totalled 2.95 million, its lowest in 49 years while Ford's sales sagged to a 47-year low, according to trade magazine Automotive News.

Overall vehicle sales in the US totaled 13.2 million in 2008 (against 16.1 million in 2007) - the lowest since 1992 - according to industry analysts.
 
Toyota, which overtook GM as the world's top carmaker, retained the top spot among automakers in the US, followed by Ford, Chrysler, Honda and Nissan.