2009 Car Sales Were Worst in 40 Years
U.S. car sales totalled 10.4 million in 2009, the lowest figure since 1970. Analysts expect this figure to rise about 15% to 11.5 million cars in 2010, but that's still way below the 2001 peak of 17.4 million cars sold.
The big three domestic brands (GM, Ford, and Chrysler) all incurred a large drop in sales for 2009. Ford did the best out of the three, with sales down 15% while GM sales were down 30%. Chrysler fared the worst with sales down 36%. It was the first time since 1962 that Chrysler failed to sell more than one million cars in one year.
The largest car maker in the world, Toyota, saw U.S. sales slide 20%.
Only 3 car makers sold more cars in 2009 than in 2008: Subaru, Kia and Hyundai. Subaru had a record year as it increased sales by 15%.
Going into 2010, analysts are expecting a 15% increase in sales. Many car manufacturers have been ramping up production in anticipation. Even if sales do increase, 2010 is still going to be a great time for car buyers considering sales will still be down nearly 40% since peak.
3 Steps Every Car Buyer Needs to Take to Save Maximum MoneyThe key to getting the best deal is to gather price or lease bids from as many local dealers as possible. Then shop that best price around until no one can beat it. Here are the steps:
Step 1 Get Prices From My Trusted NetworkSelect the vehicle you're interested in to see if there are local dealers in my network who will provide you with their best upfront price. You will get direct access to an internet sales manager who you can further negotiate with online (no need to visit dealership).
Step 2 Get Prices From TrueCar / CarsDirectTrueCar, and CarsDirect are my top 2 online price quote recommendations. These services show you pre-negotiated prices from dealers closest to you - and the deals are usually pretty decent. But remember, you can still negotiate further.
Step 3 Complete my ChecklistFollow this up with my checklist to make sure you squeeze out every last bit of savings.
- Gregg Fidan
Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid