Auto Industry In Depression

The auto industry worldwide and especially in the U.S. is in a major depression. Within a year I expect at least one and most likely two U.S. auto companies to be in Chapter 11. I would not touch an auto stock with a ten foot pole. GM stock is going to 0-Lou

Auto sales near 27-year low

Auto sales near 27-year low DETROIT (Reuters) - Ford Motor Co posted a 40 percent drop in January sales in the United States, the sharpest decline for the No. 2 U.S. automaker in 10 months of double-digit sales declines in the world's largest market for new cars and trucks. Toyota Motor Corp, the world's largest automaker, was hit with a 34 percent sales decline, a drop that underscores how the U.S. recession has tripped up even the industry's strongest players. Sales for Nissan Motor Co were off almost 30 percent.

The results from Toyota, Ford and Nissan on Tuesday were among the first from major automakers for a month expected to show overall sales near 27-year lows, extending a stretch of 15 months of consecutive auto sales declines.