International Automobile Dealers Announce Monthly Sales
ALEXANDRIA, Va., Oct. 2, 2008 - The American International Automobile Dealers Association (AIADA) today released September 2008 sales figures for the international automobile industry. AIADA represents over 11,000 international franchises, which after six months of holding the majority of the American market share, this month fell to 47.7 percent.
"International dealers and automakers are experiencing the same financial tremors felt from Wall Street to Main Street," said AIADA President Cody Lusk. "Today we look to Congress to help us and all Americans regain a stable economic footing. There is certainly room for growth in our sales numbers and dealers have high hopes for their new 2009 models."
International brands sold 460,182 vehicles in September, down from 683,328 in August. Asian brands held a 39.9 percent share of the market, Europeans had a 7.8 percent share, and domestic brands finished the month with 52.3 percent of the market. Not a single major automaker saw sales improve compared to September 2007. Year to date, only Honda, Jaguar, Maserati, Mini, Rolls Royce, Subaru, and Volkswagen have seen sales rise from 2007.
A variety of causes are to blame for September's weak sales. Consumer confidence, which took a hit from the banking collapse and gas prices, was not helped by cash-strapped lenders who turned away thousands attempting to finance a new car purchase.