Total sales in April fell 4.7% year-over-year to 1.426 million vehicles, according to Autodata; cars sales plunged 11.1% and even truck sales edged down 0.1%.

Year-to-date sales, at 5.49 million vehicles, are now down 2.4%. At this rate, this will pan out to be the dreaded "car recession."


Automakers had shelled out $3,465 in incentives per new vehicle sold, on average, according to TrueCar estimates. A record for the month of April. It beat the prior record of $3,393, set in April 2009. It amounts to about 10% of suggested retail price, similar to March. The last period when incentive spending was at this level of MSRP was in 2009 as the industry and sales were collapsing.


bloated inventories are [also] hounding the automakers. According to WardsAuto.com, there were over 4 million new vehicles sitting on dealer lots and increasingly on rented parking lots at zombie retail malls. April was the fourth month in a row with dealer inventories above 4 million. The last time this happened was in 2004!

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