The auto market … er … “stalled out” bigtime in May.
Sales at General Motors (GM) plunged 18% from a year ago, much worse than the 13% drop that was forecast.
Sales at Ford Motor (F) tanked 5.9% versus forecasts for a 2.9% decline. Toyota Motor (TM) sales were down 10%, while Nissan Motor (NSANY) sales slipped slightly. More proof that my “Peak Auto” theory is right on target? I’m biased, but I sure as heck think so.”
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Hi Mike
A result like this while gas prices are down and cars are as cheap as they are now? Could it get any worse? It is possible.