'08 auto sales to show steep drop

Automakers are scheduled to report December and full-year U.S. sales Monday, and researcher J.D. Power & Associates expect volumes to have fallen almost 3 million units from 2007. Annual sales have been falling domestically since 2005, and November's results were at their lowest level in more than 26 years.

For the year, auto industry tracker Edmunds said its expects sales numbers to come in at their lowest level since 1992, according to data from Ward's AutoInfoBank. Sales peaked at 17.4 million in 2000.

And J.D. Power expects the sales decline to continue, forecasting 2009 sales of 11.4 million units.

Annual U.S. auto sales figures