2008 U.S Automotive Sales Data & Reports Hub 

The year 2008 was a tumultuous one for the U.S. auto industry, marked by a major economic recession, unprecedented challenges for major automakers, and changing consumer habits. The U.S. entered into a severe recession in 2008, with the financial crisis having a profound impact on the auto industry. Tightening credit markets, plummeting consumer confidence, and overall economic uncertainty led to significantly reduced vehicle sales. Total vehicle sales in the U.S. dropped dramatically to around 13.2 million units in 2008 from 16.1 million in 2007, marking one of the sharpest declines in the industry's history. The "Big Three" U.S. automakers (General Motors, Ford, and Chrysler) faced existential threats. They struggled with declining sales, high legacy costs, and a lack of small, fuel-efficient vehicles in their lineups. Both General Motors and Chrysler approached the brink of bankruptcy by year's end. Due to the severity of the crisis, the U.S. government intervened to support the auto industry. In December 2008, President George W. Bush approved a $17.4 billion rescue package for General Motors and Chrysler. High gasoline prices earlier in the year and growing economic challenges saw consumers moving away from gas-guzzling trucks and SUVs in favor of smaller, more fuel-efficient vehicles. While all automakers were affected by the downturn, some foreign brands, especially Japanese and Korean companies, were better positioned with a lineup of smaller, fuel-efficient vehicles that catered to the changing consumer preferences.