GLG News by Salvage Auto Auction Market Experts

The summer of 2008 with its monthly dose of double-digit sales declines is over. But will autumn be any better? Maybe.

Even with strings attached, any help the Federal Government gives to the Detroit Three, will usher in the most demanding, meddlesome period of U.S. federal involvement in the affairs of Detroit's automotive community in its history 

Toyota Motor Corp. sees North American sales coming in at 2.70 million units in 2008 and languishing at the same level in 2009. By contrast, the Toyota group sold 2.83 million units in North America last year.

The automaker, last week in a last ditch attempt to salvage sales for the month of August, announced an "Employee Discount" for everyone, not just bona-fide employees.

Domestic auto sales are expected to drop over 14% when August sales results are announced on Wednesday. Last month industry observers marveled that Nissan was the only one of the Big 6 automakers that showed a sales increase. How did they do it? They bought and paid for it.

How GM and Ford were ever able to raise money through bond offerings over the years remains a mystery to me. Consider some recent announcements.   August 5, 2008: "Default Risk At Ford, GM, Chrysler hits 95%; Automakers Ask for Taxpayer Handout."   August 4: "Auto Sales Dismal At All Three...

Automotive insiders are taking a "wait and see" attitude regarding Hyundai's attempt to market a luxury car in the U.S. Many remember the fate that befell VW's Phaeton. 

Most of the conversation about upcoming electric cars centers around the Chevy Volt and the Toyota Prius. However, a little known French-Indian company may surprise both of them.

In July, GM outlined a plan for cutting expenses and selling assets in an effort to raise cash which it is burning through rapidly.

Retail sales in July fell 0.1%, the first overall decline in five months, with the 2.4% plunge in automobile sales the primary reason for the poor performance.