Ford Motor reported sales of new vehicles in the U.S. fell almost 19% last year.
Vehicles sales are expected to drop from 16.5 million in 2007 to approximately 13.5 million once the 2008 figures are offically released. This would represent the lowest sales totals since 1992.
Those numbers represent a staggering drop in car & truck sales. The company is projecting 2009 sales to be around 12 million.
However, some industry experts are predicting new car sales could slide under 10 million.
High gas prices during the year, tightening loan requirements and consumers concerned about the feds assisting the automotive industry all played roles in the drop in demand.
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