
In the U.S. auto sales have dropped in double digits since March, even for companies such as Toyota.
GM and Chrysler both reported as much as a 19 percent drop in on this past Tuesday. Ford's sales fell approximately 14 percent, and Toyota was down about 10 percent compared with last March. Nissan fell 4 percent, and Honda reported a 3 percent drop.
If the March sales rate held steady for the whole year, the U.S. sales would be 15.1 million units in 2008, according to Autodata Corp. That's almost down a rate of 16.2 million units from last March. So are deals to be made? Well O'Reilly plans to buy it's auto parts rivals out!
So O'Reilly Automotive Inc., the third-biggest U.S. auto parts corporation, has agreed to buy CSK Auto Corp. for 528 million dollars after a yearlong attempt to take over the Phoenix-based wholesaler. CSK investors will receive $12 for each share, including $1 in cash and $11 in stocks is what the Springfield, Mo. based O'Reilly had said just last Tuesday.
Labels: O'Reilly Auto Parts