National Press Release

Auto Industry Sees Worst March in 34 years

ALEXANDRIA, Va., April 2 /PRNewswire-USNewswire/ -- The American International Automobile Dealers Association (AIADA) today released March 2009 sales figures for the international automobile industry. AIADA represents over 11,000 international franchises, which so far this year account for 56.3 percent of all vehicles sold in the United States. Overall sales, including domestics and unadjusted for business days, were down 37 percent from March 2008.

"Dealers across the country are struggling," said AIADA Chairman Russ Darrow. "At this point, historically low consumer confidence is standing in the way of any retail recovery. We look to Congress to pass a non-discriminatory scrappage bill to get consumers shopping again." Darrow is the chairman and chief executive officer of the Wisconsin-based Russ Darrow Group, Inc. Darrow went on to say, "We need the new Administration to act quickly and work with the Federal Reserve Board to refine the TALF and undertake any other mechanism necessary to restore retail and floorplan lending. Dealers also need the Small Business Administration to expand the loan guarantee program which will provide access to floorplanning and working capital for auto dealers."

According to numbers from Autodata Corp., international brands sold 477,921 vehicles in March, down from 700,410 in March 2008. Asian brands accounted for 47.1 percent of the market, up from 44.4 percent in March 2008, and Europeans had an 8.6 percent share, up from 7.2 percent. Domestic brands finished the month with 44.3 percent of the market. While the news was grim for most carmakers, year to date three international makes - Kia, Smart, and Subaru - have seen positive growth.

Despite being the worst March in 34 years, last month actually surpassed many analysts' predictions. High incentives, an average of $3,169 per vehicle, could be responsible for the good news. The seasonally adjusted annual sales rate (SAAR) now stands at 9.86 million vehicles, above the 9 million predicted in January and February. For more information on automobile sales data, and to view a full report on March automobile sales, click here: http://www.aiada.org/newsroom/newsDetails.asp?id=57385&cmd=article

About AIADA: Established in 1970, AIADA is and continues to be the only association whose sole purpose is to represent America's 11,000 international nameplate automobile franchises that sell and service the following brands: Acura, Aston Martin, Audi, Bentley, BMW, Ferrari, Honda, Hyundai, Infiniti, Isuzu, Jaguar, Kia, Land Rover, Lexus, Maserati, Maybach, Mazda, Mercedes, MINI, Mitsubishi, Nissan, Porsche, Rolls Royce, Saab, Scion, Smart, Subaru, Suzuki, Toyota, Volkswagen and Volvo. These retailers have a positive economic impact both nationally and in the local communities they serve, providing more than 500,000 American jobs. Visit AIADA online at www.aiada.org.

SOURCE American International Automobile Dealers Association