The news just gets worse every month. October auto sales were the worst since World War II. GM was off a staggering 45 percent. Can you believe that?
"This level of sales is not sustainable for anyone in the industry," said Michael DiGiovanni, head of global market analysis for General Motors. "It doesn't matter how deep their pockets are. Everyone is pulling in their reins to one degree or another, but everyone is affected by this."
"I'm always very optimistic by nature," said Mark LaNeve, GM's North American vice president of sales, "but in my 27 years I never saw a month like this." Sales levels were those of a "severe, severe recession," he said. "In September, the consumer was hanging in there with us, but by the time we got to October, he was done and finished."
Here's AutoObserver's take: Horrific October Car Sales Plunge Industry to Post-WW II Low
edubya says:
07:26 AM, 11/ 4/08
Egad.
estreka says:
11:09 AM, 11/ 4/08
I imagine November sales will bouy a bit, but the underlying problems still remain. I'm still holding onto my prediction of 12mil sales.
ateixeira says:
10:58 AM, 11/ 5/08
Noone wants to use the "D" word.