Tuesday, May 01, 2007

Speaking of Declining Consumer Spending...

Auto sales - the biggest single chunk of consumer spending - look to be faring quite poorly this spring. The Incredible Shrinking Car Company is selling still fewer cars in the US... but so is everyone else, it seems.
May 1 (Bloomberg) -- Ford Motor Co. said U.S. auto sales fell for the sixth straight month in April as the industry likely declined and gasoline prices rose.

Sales dropped 13 percent to 228,623, the Dearborn, Michigan-based company said today in a statement. Ford's truck sales slipped 5.8 percent, and its car sales were down 24 percent.

General Motors Corp. and DaimlerChrysler AG also are expected to post sales declines in April as rising gasoline prices sapped demand for new cars, according to analysts surveyed by Bloomberg.

..."April is shaping up as a particularly weak month for automotive sales," said Chicago-based Lehman Brothers analyst Brian Johnson in an April 27 report. "Lower consumer confidence, associated in part with the slowdown in the housing market, appears to be taking its toll."
So April seems to have been a bust, at least for one important part of consumer spending. There are still two months left to go in the second quarter of 2007, so anything could still happen to overall consumer spending in the next GDP report. But based on what I wrote this morning about personal income and spending, you can guess how I would bet...

UPDATE: The other major automakers have now reported their April results... and they were pretty grim. The slowdown in consumer purchases of motor vehicles was not brand-specific. Even Toyota was down. And when Toyota sales are down, it's worth taking notice.


  1. Anonymous9:08 AM

    Ridiculous story there. What occurred after? Thanks!

    my web page: fitness tips men
    my web page: cei.inf.ufpr.br

  2. Anonymous5:24 AM

    Education is not about memorizing and getting the degrees in hand.

    The ultimate online news source that covers news, travel, money, sports,
    life, technology and weather. The facility of websites
    and online news are also getting lot of appreciation because it is very time saving and people can read
    it in between their work.

    Here is my blog keep reading

  3. Anonymous6:08 AM

    Learn few fine points of software editing with numerous tutorials that are simply accessible with few simple
    clicks. That is why we have dedicated this page to help you renew your spirit and perhaps have a
    few laughs too. We are offering the latest news updates about your famous celebrities.

    My web blog ... funny pictures about lovers

  4. Anonymous7:12 AM

    Very descriptive post, I enjoyed that a lot.
    There has to be a part Two?

    My web page: omg.enelbrasero.com

  5. Anonymous7:57 AM

    But it's always wise to check in with a doctor before you start using a supplement regularly. The second option is to use headphones as you probably did at the gym in the past. The problem is that many do not follow through with their fitness plans and thus fail within the first 3 months of starting a new fitness plan or routine.

    My blog post ... http://www.mortonfamilytree.com/tiki-index.php?page=UserPageingeborgb

  6. Anonymous9:53 AM

    The advantage about the funny pictures is that you can watch
    them along with the family. These make great funny pictures, and can be as blatant as the example I
    just gave, or as simple as a spelling mistake. Some programs allow a user to make the same post on multiple websites simultaneously.

    my web blog www.epicturtles.com

  7. Anonymous11:06 AM

    Information that informs the public and makes them good citizens is the
    kind of quality information that one can be proud to call news, and if it ever goes completely out of style, may the Lord help us, for it will be the
    end of civilization as we know it. Both the content and presentation of news are drastically
    different from what it used to be. Due to the recent horrifying terror attacks and
    other such couple of events people want to be
    aware and alerted of the whereabouts of the nation.

    Review my web site :: Latest Daily News

  8. Anonymous4:54 AM

    Hello, its pleasant paragraph on the topic of media print, we all know media
    is a great source of data.

    Have a look at my weblog www.karacaydunyabiz.com

  9. Anonymous6:00 AM

    If you complete your two years and realize you want to continue learning even more, this program is flexible and gives
    you the option to continue into a third year, where you.
    Many of these focus on treating various types of cancer, as well as genetic disorders.

    In the manufacturing of food, pharmaceuticals or cosmetics,
    assuring quality control is a top-notch priority.

    my web-site; main page

  10. Anonymous8:32 AM

    If some one wants to be updated with latest technologies
    after that he must be pay a visit this web site and be up to date
    every day.

    My web page :: http://www.smlingrell.com

  11. Anonymous2:38 PM

    This kind of language schools are aimed to keep your children learning about new languages as well as cultures.

    This is merely a reflection of the fact that people
    are on the lookout for a break from the stresses of life.
    Use old fabric to create puppets, monsters, and any other creatures that your child can imagine.

    Feel free to surf to my page :: elgg.luxstage.r2integrated.com

  12. Anonymous9:43 AM

    Thousands protest in Russia at rallies across the
    nation. The ultimate online news source that covers news, travel,
    money, sports, life, technology and weather. These have become world famous with all
    the passing days.

    my website howudey.com