General Motors Corp, Ford Motor Co and other auto sales plunge

It may seem obvious to some people that auto sales will drop sharply if money is tight thanks to the credit crunch and recession, but now the facts are hitting home and last month (October) auto sales plunged to almost 25-year lows.

United States auto sales for Ford Motor Co. have been released and October ended in a 30 percent drop for the company, General Motors Corp led all auto brands with a 45 percent drop.

Toyota Motor Corp was also hit badly with a 23 percent drop; Toyota trucks were the hardest hit with a drop from 87,334 to 57,865 units. The question being raised now is what major automaker will crumble to the bad economy and not survive?

Auto sales in Europe saw a 19 percent drop in Italy and 40 percent in Spain. Will you be buying a new car within the next 12 months?

Source: Read

CLICK HERE to keep updated with the latest news, share a comment or problems with products and services. Follow us on twitter or read more Ford news.