Thanks to an ever-tightening credit market and record high fuel prices, analysts are predicting a 10 percent drop in new car sales for the month of May, a new report finds. Although the sales drop is expected to be fairly uniform across the board, it is expected that General Motors, Ford and Chrysler will be hit hardest, largely due to their reliance on trucks and SUVs.According to Automotive News, General Motors will likely report a 22 to 25 percent drop in new car sales for the month of May, while Ford is expected to check in with a 22 percent drop. Chrysler is expected to see at least a 20 percent decline in sales.
Despite an expected sales drop of 6.7 percent from May 2007, analysts predict that Toyota's market share will climb from 17.5 percent last month to 18.1 percent in May.
The only automaker expected to post a sales increase for May is Honda. Thanks to its lack of fuel-thirsty vehicles, the Japanese automaker is expected to post a 3.2 percent sales gain on May 2007.
Source:
http://www.leftlanenews.com/analysts-predict-10-percent-drop-in-new-car-sales-for-may-honda-only-automaker-to-see-sales-gain.html
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