General Motors' October U.S. sales plunged 45 percent and Ford's dropped 30 percent, as low consumer confidence and tight credit combined to scare customers away from showrooms.
The results released Monday — along with a 23 percent drop at Toyota and a 25 percent decline at Honda — are strong indications that sales for the industry as a whole may perhaps be the worst in 25 years.
Detroit-based General Motors Corp. said its light trucks sales tumbled 51 percent compared with the same month last year, while demand for passenger cars fell 34 percent.
The results were less severe at Ford Motor Co., which said its Ford, Lincoln and Mercury car sales were off 27 percent, while light truck sales for the three brands were down more than 30 percent.
Overall, GM sold 168,719 vehicles, down from 307,408 in the same month last year, while Ford, including its Volvo brand, sold 132,278 light vehicles last month down from 189,515 in the same month last year.
EDIT.. How many debt ridden business's .. that employ hundreds of thousands of people .. can continue for much longer with sales drops like that.. ;P
STRANGELY .. just over the northern border ... Chrysler Canada posted a 1.5% Oct increase in sales, awhile similiar gains were made by Honda and Toyota.. with Lexus of Canada hosting a 9.4 per cent increase in Oct sales from Oct 2007. ... go figure...!;)
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