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The automobile industry right now is not as good as it used to be a couple of years ago where big companies such as General Motors Corp Ford Motor Coand DaimlerChrysler AG delighted themselves seeing how their sales and profits increased in their quarterly report Now instead is the flip side of the coin where these big companies and many others endure slumping sales not only nationwide also globally speaking The big question now is why is this happening but the answer is not clearly defined yet although many blame it on weakening consumer confidence winter weather a tightening of consumer credit and a decrease in consumer sales incentives all of this followed by a misguided marketing Last month Americas auto industry declared a 10 percent drop in sales for the month of December 2000 making it the weakest nonstrike sales month in more than two years and matching the slowdown in other sectors of the economy analysts said But even worst if we see other numbers such as Ford Motor Co car sales that mirrored those of GM at a 16 percent drop However light truck sales will fare a bit better at a 12 percent decline The Burnham Securities analysts said these forecasts exclude Fords Jaguar Volvo and Land Rover units In other auto news affecting our shores Japanese automobile exports fell 29 percent last month from 1999 to make it the third consecutive year that the figures declined said the Japan Automobile Manufacturers Association Exports to the US market have recently been falling due to a slower economy here and Japanese cars have been losing price competition in Europe because of currency fluctuations Passenger car exports were down 56 percent to 315075 units and truck figures were down 145 percent to 52370 Of the five top Japanese automakers Toyota Motor Co was off 07 percent Honda Motor Company was down 75 percent Nissan Motor Company got hit with a 127 percent decline
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