Auto sales reach a 25-year low

Auto sales reach a 25-year low
# 04 November 2008 09:24 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. The auto industry on Monday posted its worst monthly U.S. sales tally in 25 years, with General Motors Corp. leading a barrage of sobering reports from car makers struggling to attract buyers in the deepening credit crisis, MarketWatch reported.
GM’s 45% drop plumbed the lowliest of Wall Street’s grim projections, while potential merger partner Chrysler posted a 35% decline.
And Ford Motor Co. handed in a 30% drop, touting the launch of its new F-Series pickup as a silver lining in an economic environment marked by challenges "the likes of which haven’t been seen in more than two decades."
Toyota Motor Corp. both fared slightly better, but their sales were still off more than 20% each.
Nissan Motors endured the biggest decline of the top three Japanese automakers, down 33% to 56,945 vehicles from 84,947 last year. Nissan brand vehicle sales fell to 49,833 from 74,992, and Infiniti brand vehicles fell to 7,112 from 9,954.
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