GM November Sales Plunge 41 Percent
This is like a race to the bottom: An hour ago, Ford reported its November U.S. sales were down 31 percent compared to November 2007 and Toyota said its November sales were down 34 percent.
But neither can compete with General Motors, which may or may not still be the world's No. 1 automaker. In November, GM said U.S. sales were down 41.3 percent compared to November of last year.
If there's any upside for GM, it's this: It's October sales were down 47 percent.
Chrysler is still to report its November numbers.
--Frank Ahrens
By
Frank Ahrens
|
December 2, 2008; 1:58 PM ET
Categories:
The Ticker
| Tags: Chrysler, Ford, General Motors
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Posted by: Fairfax3 | December 2, 2008 2:48 PM | Report abuse
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Congress needs to enact a massive tax deduction for consumers who purchase NAFTA cars and trucks in order to stimulate demand.
No amount of bailouts will save the Detroit 3 because production will not increase until the current glut of inventory is cleared from the market.
J.M. Keynes said the same thing in 1936 and it is still true today.