‘92 Models Fail to Prevent 10% Drop in Vehicle Sales

The 1992 model year got off to a bumpy start, as sales of North American-made cars and light trucks fell 10.1% in the first 10 days of October, figures indicated Tuesday.

Japanese auto makers reported a 36.8% gain, but the Big Three domestic firms saw their combined sales fall 14.3%.

Customer traffic seemed heavier in early October, said one dealer, but interest was focused mainly on snatching up remaining 1991 models at bargain prices.

“It’s been a little better than in the past,” said Sal Caliri, sales manager at Mel Clayton Ford in Phoenix. “They are looking at ‘91s more closely than ‘92s.”

Shoppers are finding higher prices for 1992 models. GM is raising prices an average of 3.1%; Ford, 3.7%; and Chrysler, 1.4%.

The sluggish recovery may be behind customers’ reluctance to buy new cars. In addition, sales rates tend to drop in early October because of fire sales that dealers hold in September to sell off 1991 inventory.

General Motors Corp. said combined car and light truck sales fell 16.5% during the Oct. 1-10 period, while Ford Motor Co. said its vehicle sales slipped 9%.

Chrysler Corp.’s car and truck sales fell an estimated 17.7%. Chrysler doesn’t report sales for 10-day segments. The Associated Press estimates Chrysler sales based on the company’s average monthly market share the past 12 months.

Auto makers are coming off a dismal 1991 model year, which ended Sept. 30. The 12.5 million cars and light trucks sold was the worst since 1983, when sales were at 11.7 million.

For the year to date, North American-made car and truck sales are down 11.7%, with the Big Three falling 14.2% and Japanese sales up 9.2%.

Ford spokesman Joel Pitcoff said the 17.5% drop in Ford truck sales in early October was expected because the September push to clear out 1991 models stole away prospective October buyers.

For the year, Ford truck sales were running 13.9% behind last year’s pace, while car sales, down 3.4% in the 10-day period, were running 16.9% behind.

GM’s car sales plummeted 19.2% in early October and were down 12.8% for the year to date. GM truck sales, which fell 9.7% in the 10-day period, were behind 15.1% in the year-to-date period.