CLEVELAND–A majority of North American and European retailers responding to a Longbow Research survey said their appliance sales fell in December.
Sixty-four percent of the retailers told Longbow Research that their sales were down versus December 2007. Based on the responses, the company estimated that sales among the North American dealers dropped in the mid- to high-teen percentages, while in Europe the estimate was that sales declined in the mid- to high-single-digit percentages. David MacGregor, Longbow Research industry analyst, said, “We believe this represents additional cause for caution in forecasting fourth-quarter 2008 manufacturers’ shipments.”
The survey also found that price increases in North America were sticking, while those in Europe were not, which “may bode moderately well for first-quarter 2009 wholesale volumes,” MacGregor said.
