As worldwide car sales drop like a rock, interesting things are now showing up in the statistics. It is not what you are but where you stand, relative to others. This month, China just passed a new road sign: more cars were sold in China than in the US. This is very important: we no longer control world consumer markets. It is moving East. Japan refused to be a world market and looked only to enrich the top 10% so Japanese car sales have been declining for a decade or more. But with the massive Chinese population indulging in this, it means the fall of world oil prices will cease and the US will begin seriously competing with the Chinese for gasoline.
GM’s 53% U.S. Sales Decline Leads Industry’s February Plunge
General Motors Corp., surviving with federal loans, said its February U.S. sales plummeted 53 percent as the recession pushed industrywide purchases toward the lowest in almost three decades.
Sales tumbled 48 percent for Ford Motor Co., 40 percent for Toyota Motor Corp., 38 percent for Honda Motor Co. and 37 percent for Nissan Motor Co. GM said it plans to build 34 percent