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8.9 Million September SAAR With 64.8% Of Industry Reporting

Tyler Durden's picture





 

The Cash For Clunkers party mess cleanup is getting uglier by the minute. From Citigroup:

September Auto Sales Currently Running at an 8.9 Million Unit SAAR (64.8% reporting)

With 64.8% of the industry now reporting, we are seeing a sales rate for September of 8.9 million units SAAR. This lower pace appears to be heavily influenced by the pay back from the cash-for-clunkers program as luxury brands do not appear to be having the same large drop as more utilitarian vehicle makers.

And this is what disastrous government policy looks like when charted:

 


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Thu, 10/01/2009 - 15:21 | Link to Comment MountainHawk
MountainHawk's picture

Damn it..wish my AXL October put would have taken off, no dice...

Thu, 10/01/2009 - 15:26 | Link to Comment Handle with care
Handle with care's picture

Terrific news.  Next month when it stabilizes at 9.0 the market can rally at the fantastic upward trend

Thu, 10/01/2009 - 16:08 | Link to Comment john bougerel
john bougerel's picture

handle,

 

you are so spot on, stabilizing the data will buoy the market next month

Fri, 10/02/2009 - 12:29 | Link to Comment Anonymous
Thu, 10/01/2009 - 15:37 | Link to Comment Anonymous
Thu, 10/01/2009 - 15:44 | Link to Comment Divided States ...
Divided States of America's picture

Maybe I can get a Hummer at discount prices....well it may come in handy when all hell breaks loose.

Thu, 10/01/2009 - 15:57 | Link to Comment Charles Wilson
Charles Wilson's picture

"We can get a Hummer for you at a discount price.  Which of our Afghani Dealers will you use?  Oh, by the way, all our Kabul Dealers are...ummm...all tied up now.  Might I also suggest a Pakistani dealer?"

 

CW

Thu, 10/01/2009 - 23:04 | Link to Comment Anonymous
Thu, 10/01/2009 - 16:13 | Link to Comment I need more cowbell
I need more cowbell's picture

If that is a headfake, it is Barry Sanders-worthy

Thu, 10/01/2009 - 16:01 | Link to Comment Anonymous
Thu, 10/01/2009 - 16:02 | Link to Comment Assetman
Assetman's picture

It appears we ended at 9.2 million units.

Still crappy, but I'm sure someone will make a "green shoot" out of it.

Thu, 10/01/2009 - 16:05 | Link to Comment MsCreant
MsCreant's picture

Looks like government almost shut down.

Lots of little revealing goodies in this.

http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=20090930...

Thu, 10/01/2009 - 16:16 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

With Obama out of the country and the bill needed to be signed before midnight, I have a few probably stupid questions.

1) I was under the impression he must sign the actual physical paper bill passed by the conference committee. If true, that would mean they would need to fly it to Denmark today/night.

2) I guess it doesn't matter if he is out of the country as long as he signs it, correct? He doesn't need to be on US soil when he signs the bill, right?

Just curious how these little things work.

Thu, 10/01/2009 - 16:22 | Link to Comment I need more cowbell
I need more cowbell's picture

It WOULD matter if he was actually born a US citizen. The "birthers" didn't forsee the unique advantages O'Bummer brings to the table.

Thu, 10/01/2009 - 18:02 | Link to Comment Miles Kendig
Miles Kendig's picture

Please.  Even if he were born outside of the US he would have the same birth certificate as McCain and my oldest.  A FS Form 45.  Settled case law on that one.

Thu, 10/01/2009 - 19:21 | Link to Comment Anonymous
Thu, 10/01/2009 - 18:07 | Link to Comment Miles Kendig
Miles Kendig's picture

CD - "Reasonable" certified true copy of the original until he returns.  And, no matter where.  Even if he is a person holding the office rather than the personification of the office itself. You know, BO, President of the US rather than President of the US, BO. Subtle but potent differences there.

Thu, 10/01/2009 - 16:10 | Link to Comment cougar_w
cougar_w's picture

Interesting how the latest SAAR number is nearly smack on the trend it was taking pre-CfC.

They bought nothing with the CfC effort and expense. They didn't even buy themselves time. We are probably exactly where we would have ended up if the linear declining trend in SAAR had been left to continue.

That's what we call signal: The props and sandbags are not holding. Not anywhere. There is nothing firm on which to anchor them. Foundations are erroding faster than the plutocrats can toss in another load of fill. The walls holding back the sea are down, and the sea is coming, and there is no stopping it, and there is no slowing it, there is only getting the hell out of the way. Everything is become desperate hand-waving and sooth-saying because they have no clue what is going on, no clue what to do.

Not the first clue. They are probably already heading for the hills, looting as they go.

The wave that will take us is coming. No -- the wave is already here.

cougar

Thu, 10/01/2009 - 17:00 | Link to Comment glenlloyd
glenlloyd's picture

C4C = waste of time, $3bn down the shitter,

Thu, 10/01/2009 - 18:08 | Link to Comment Miles Kendig
Miles Kendig's picture

True.  Again, past time to leave the south bay cougar.

Thu, 10/01/2009 - 16:16 | Link to Comment Anonymous
Thu, 10/01/2009 - 16:21 | Link to Comment Thoreau
Thoreau's picture

nothing but net hence forth.

Thu, 10/01/2009 - 16:25 | Link to Comment Ben Graham Redux
Ben Graham Redux's picture

60% increase for the Ford Taurus - can anyone say "fleet purchases"? 

Thu, 10/01/2009 - 17:25 | Link to Comment MountainHawk
MountainHawk's picture

I haven't seen a new Ford Taurus yet, and I live in a pretty busy area.

Thu, 10/01/2009 - 17:31 | Link to Comment Green Sharts
Green Sharts's picture

No, the Taurus is a new model and the comparison is against virtually no sales the prior year.  Ford had eliminated the Taurus after ruining it by only introducing a new model every 6-7 years. It became a cheap fleet vehicle.  Then Mulally decided it was stupid to abandon the Taurus name so they switched the Ford 500 to be called a Taurus a year or two ago.  Now they have an actual new Taurus so it's not surprising that sales would jump off a tiny base.

Thu, 10/01/2009 - 18:09 | Link to Comment Miles Kendig
Miles Kendig's picture

Best SAAR we will see for the remainder of the year.

Thu, 10/01/2009 - 19:05 | Link to Comment Anonymous
Thu, 10/01/2009 - 20:26 | Link to Comment Anonymous
Thu, 10/01/2009 - 23:23 | Link to Comment Handle with care
Handle with care's picture

For me the fact that the government thought that borrowing from the Chinese to subsidise the purchase of Japanese cars is the way to fix the economy and that when they saw that people would happily take free money they proclaimed it a great success is indicative of the thinking in the Whitehouse and the Capital.

 

Its reassuring to me to know that when I looked at this and thought, of course people take free money when its offered but it doesn't do anything to fix the economy, while every one in authority was acting as if the government had done something worthwhile, that I wasn't stupid or missing something because I'm dumb.

Thu, 10/01/2009 - 23:25 | Link to Comment Anonymous
Thu, 10/01/2009 - 22:33 | Link to Comment Anonymous
Thu, 10/01/2009 - 22:48 | Link to Comment Anonymous
Thu, 10/01/2009 - 23:30 | Link to Comment Terminal Frost
Terminal Frost's picture

The growing wealth gap in action?  Perhaps.  The SAAR numbers for the winter months should be VERY interested.

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