Auto sales are out and we’re officially into second derivative territory again. Overall sales were down big time from last year but up from last month. In May of 2008 the industry was selling a bit over 14 million cars and light trucks (that’s a seasonally adjusted rate). It comes in right around 10 million for May. That’s better than the 9.32 million number in April and a smidgen better than the 9.86 million in March. 

So drinks all around. The pace of our descent into hell is slowing.

Here’s how it broke out among manufacturers in May:

Ford                             -24%

GM                               -29%

Chrysler                       -47%

Honda                          -39%

Nissan                         -33%

Toyota                         -41%

Hyundai                       -20%

BMW                             -27%

VW                               -12%

Those are comparisons between May of last year and May of this year.

The industry has a long way to go before it’s healthy. 

more: here