Car Sales Drop to 15-year Low

Image from source, Reuters

This really isn't a shock, is it? I mean, the big automakers have been pushing big SUVs and big cars for an awfully long time. Long after the writing was on the wall, they still don't have a lot of little cars in their lineups.

The Other Half and I were just talking about this recently. What do the CEOs of these companies do to earn their big fat bonuses? Is there no contingency plan for changes in the economy or oil supply (or both, like we're dealing with now)? This has happened before, but it would seem that they've kept with the plan that people would keep wanting big cars and trucks. Not so smart.

[Excerpt]

U.S. auto sales hit 15-year low

U.S. auto sales plunged in June to a 15-year low, but a month-end clearance sale helped General Motors Corp (GM.N: Quote, Profile, Research) retain its No. 1 spot and steer clear of the wipeout many had feared, sending its shares higher. . .

Read more at: Reuters