US Vehicles Sales Could Hit Thirteen Year Low (GM)(F)

GM (NYSE: GM) and Ford (NYSE: F) already trade near 52-week lows because of high gas costs and the rising prices of commodities for components used in cars. Now, JP Power is dropping its estimate for US light vehicle sales to 14.95 million. The research firm had earlier put up an estimate of 15.7 million. According to Power "In the first quarter of 2008, sales are expected to average 15.2 million units, with sales in the second quarter falling to approximately 14.8 million units before beginning a slow rebound during the second half of the year and into 2009." With...