What happened to the popularity of cars in 2008?
The subprime mortgage crisis and high oil prices of 2008 caused the popularity of once best-selling trucks and SUVs to plummet. Automakers were forced to continue offering heavy incentives to help clear excess inventory. Due to the declining residual value of their vehicles, Chrysler and GM stopped offering leases on most of their vehicles in 2008.
What is the best economical car to buy?
What is the best economical car to buy? We don’t think a car should be purchased on its fuel economy alone, but there are quite a few good cars that both sip fuel and are enjoyable to drive. Hybrids are generally the most efficient but often cost more than non-hybrid competitors.
What happened to Toyota sales in 2008?
With high gas prices and a weak US economy in the summer of 2008, Toyota reported a double-digit decline in sales for the month of June, similar to figures reported by the Detroit Big Three.
How many cars were made in 2009 in Russia?
Production of passenger cars dropped from 1,470,000 units in 2008 to just 597,000 units in 2009. Lorry production fell from 256,000 to 91,000 in the same period. In late 2008, the Russian government introduced protectionistic measures, worth $5 billion, to improve the situation in the industry.