DETROIT – The end of the federal government’s Cash for Clunkers also seems to have spelled a return to tough times here.
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Two of the major automakers reported sharply reduced sales yesterday, with Chrysler reporting a 42% decrease in September sales compared to September of 2008, General Motors posting sales 45% off the previous year, and Ford saying its sales had declined 6% in September over the same period one year earlier. However, Ford remained something of a bright spot, noting its Q3 2009 sales were 5% over Q3 2008.
Cash for Clunkers, which offered credits of up to $4,500 for trade-ins of less efficient vehicles, is being credited with driving approximately 700,000 auto sales during July and August.
