February Car Sales Down 41%, Worst in 25 Years

According to newly released data by Autodata, US car sales pumped once again in February by 41% to 688,909 cars, the lowest monthly sales figures since 1981. Deliveries for the month were up 4.9% over January.  GM had the fewest vehicle sales, down 53% to 127,296 vehicles in February. GM’s market share fell to 18.2% from 22.7% as a result of the poor sales. GM says the figures are the worst in over 40 years. GM is now seeking about $16.6 billion in new loans from the U.S. fed, on top of the $13.4 billion already approved. Ford sales fell by 48% to 96,044 cars in February, but the company says it will not seek additional federal aid.

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Hercules holds a B.Comm Finance from Ryerson University in Toronto, Canada. He is a Chartered Financial Analyst (CFA) level 3 candidate. He was previously a contributor at FiLife, a finance website owned by Dow Jones and IAC. Write to [email protected]
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