US Auto Sales Continue Drop Making 2009 Recovery Less Likely

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The poor US econ­o­my and con­sumer reluc­tance to buy vehi­cles based on cur­rent fuel costs are reduc­ing sales vol­ume fore­cast­ed from 15 to 14.3M. Exec­u­tives are wor­ried turn­around won’t come in late 2008 or even in 2009 giv­en lat­est quar­ter results.

Background
Light trucks account­ed for 44% of US mar­ket in June 2008
Down 11% from their 55% share 6 months ear­li­er