DOW JONES NEWSWIRES 
 

J.D. Power & Associates said retail new-vehicle sales were down 38% in the first 22 days of February from a year earlier, continuing the plunge that began in September, as the data provider again lowered its 2009 forecast.

"All automakers are feeling the economic pressure and the effects of record-low consumer confidence," J.D. Power executive Gary Dilts said.

But the worst could be at hand, said Jeff Schuster, executive director of global forecasting. "Our expectation is for February or March to be the low point," he noted, "but a high degree of uncertainty and risk remains for the second half of 2009 if the various factors that are currently impacting automotive sales do not improve or stabilize."

J.D. Power anticipates sales to non-fleet customers falling 34% this month to 580,000. Total sales are expected to equate to a seasonally adjusted annual rate of 9.4 million, down 39% from a year earlier but up 14% from January.

Meanwhile, the company now sees 2009 U.S. sales of 10.4 million vehicles, the third reduction since October and down from its most-recent view of 11.4 million.

The litany of economic woes has caused further pressure on an auto industry whose sales were already beginning to sag after years of strong industrywide results. General Motors Corp. (GM) earlier Thursday posted a $9.6 billion fourth-quarter net loss, buttressing last week's contention from the company that it could run out of money as soon as next month without more cash from the U.S. and other governments.

-By Kerry E. Grace, Dow Jones Newswires; 201-938-5089; kerry.grace@dowjones.com