Car Sales Slide As Economy Weakens

In an article by the Detroit News, car sales have taken a hit due to the slumping economy. The article states that The Big Three US companies took the hardest hit due to people not buying as many large trucks or SUV's.

Sales for GM cars and trucks fell by 12.9% last month

Chrysler cars and trucks fell by 14%

and Ford's sales dropped by 6.6%

Now both Ford and GM plan to reduce the amount of vehicles produced in order to bring the production in line with the shrinking demand. Now we can see how the slumping economy is starting to spill over from the financial and real estate markets into the auto industry.

Honda and Nissan sales actually rose last month while, unexpectedly, Toyota sales fell slightly by 2.8%. Perhaps Nissan has could emerge from this economic downturn with their plans to introduce hybrid and electric vehicles in the near future.