[Marxism] auto sales down . . .down . . . down

[Waistline2 at aol.com]

(Adds Chrysler and Hyundai figures, updates stock quotes.) 
 
U.S. vehicle sales data released Friday delivered no signs of economic  
recovery despite widespread hope the beleaguered auto industry would begin to  
see relief in April. 
 
The annual selling rate remained stuck in the low- to-mid 9 million  
vehicles, likely falling below 850,000 car and truck sales, according to early  
auto maker estimates. The drop represents a decline of 35% to 40% from a year  
ago. 
 
"Industrywide, April felt more like a dust bowl than a spring garden for  
new car sales," said Jim O'Donnell, president of BMW in North America, in a  
statement. 
 
Uncertainty around General Motors Corp. (GM) and Chrysler LLC, which  
entered bankruptcy protection on Thursday, helped drag sales down toward the  
month's end and erased a strong start to the month, auto makers said. Chrysler  
finished with a 48% decline for April. 
 
"I thought we were going to close much better than we did," Mark LaNeve,  
sales chief for GM, which reported a 33% drop. "We didn't see a significant  
break up or down." 
 
Meanwhile, shaky consumer confidence and high levels of joblessness offset  
benefits of increased credit availability, deep discounts on cars and 
trucks and  U.S. government backing of warranties on GM and Chrysler vehicles. 
 
While auto makers said they see signs of an impending rebound, more turmoil 
 lies ahead this spring as GM and Chrysler race to remake themselves under 
close  watch of the U.S. government. 
 
Even so, most auto makers posted their best sales figures of the year in  
April. An exception was Toyota Motor Co. (TM), reporting a 42% slump from a 
year  earlier and allowing Ford Motor Co. (F) to eclipse it in monthly sales 
for the  first time since March 2008. 
 
Ford, the healthiest of the Detroit Three said it continued to outperform  
rivals with market-share gains, led last month by record sales of the Fusion 
 sedan. Honda Motor Co. (HMC) also saw its results strengthen, posting a 
smaller  decline of 25% for April. 
 
 
 
full: 
_http://money.cnn.com/news/newsfeeds/articles/djf500/200905011533DOWJONESDJONLINE000605_FORTUNE5.htm_ 
(http://money.cnn.com/news/newsfeeds/articles/djf500/200905011533DOWJONESDJONLINE000605_FORTUNE5.htm) 
 
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