Recession of 2009 a Real Trial for Chevy
Recession of 2009 a Real Trial for Chevy
Recession of 2009 a Real Trial for Chevy
Chevrolet, being a division of the General Motors Corporation, had been hit hard by the economic recession during the 2009 fiscal year. Sales began to slump sharply during January however picked up slightly at the end of February through March of 2009. Compared to GM's more luxurious brands such as Cadillac and Buick; Chevrolet fared quite well.
Truck sales for all manufacturers, both foreign and domestic were down all across the board. Because Chevrolet has shifted more of its focus towards fuel efficient vehicles over the past couple of years, an influx of new car buyers have flocked to dealerships to purchase Chevrolet products over their foreign counterparts. This has been largely due to the cash for clunkers program as well as dealer and manufacturer incentives.
The top selling passenger vehicles sold by Chevrolet in the 2009 year were the Chevrolet Impala with 165,565 units sold. Closing the gap for the number two position was the Chevrolet Malibu with over 161,568 sold and coming in number three was the sub-compact Cobalt chiming in at 104,724 cars leaving dealership lots.
Hybrid truck offerings as well as regular normally aspirated engine equipped Chevrolet Silverado's domestic market share came in at around 30%, selling over 150,000 units in 2009. Together with its GM sibling the GMC Sierra, far surpassed the sales numbers of Ford and Toyota.
Heavy duty truck sales however did not fare as well as its domestic rivals such as the Ford F-250/350 and the Dodge Ram 2500/3500 models.
GM stock holders from 2008 to 2009 were hit extremely hard due to posted losses of the company and restructuring after bankruptcy protection. Although the Chevrolet brand was saved from the corporate axe, many other highly touted brands such as Pontiac and Saturn were slated to be either sold or phased out of production by the end of 2009.
http://www.articlesbase.com/shopping-articles/recession-of-2009-a-real-trial-for-chevy-2577628.html
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