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U.S. Auto Sales Plunged in October
online.wsj.com - 11/4/2008
U.S. Auto Sales Plunged in October
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Bloomberg News/Landov Auto sales tumbled in October. Even compact cars have been squeezed by the credit crunch and weakening economy: GM said it sold 6,478 Chevy Cobalts (above) this month, down from 16,521 in September.
news.yahoo.com - 11/11/2008
India's auto sales plunged in October (AP)
— news.yahoo.com — AP - Sales of passenger vehicles in India fell by 9.1 percent in October, as high interest... rates and tight consumer credit took their toll on what had been one of the world's fastest growing automobile markets, according to the Society of Indian ... (more) India's auto sales plunged in October (AP)
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Calculated Risk:  Summary of Busy Day

The Bonddad Blog:  The Detroit Death March Continues

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Summary of Busy Day
Calculated Risk — ... increased slightly in September from August, but spending is still below the peak in June 2008. Residential investment decreased in September. From MarketWatch: U.S. ISM factory index plunges again in October Credit Crisis Indicators showed some progress, especially the LIBOR and TED spread. Auto sales were a disaster in October. From Bloomberg: Auto Sales in U.S. Plunge; October Was the Worst Month Since 1945, GM Says. From the WSJ: Auto Makers Post Sharp Drop in U.S. Sales U.S. auto sales in October plunged an estimated ...

The Detroit Death March Continues
The Bonddad Blog — From the WSJ: "In my 27 years, I have never seen a month like this," said GM sales chief Mark LaNeve. "It was like somebody turned off the lights in the month of October." ..... October's declines were led by GM, where sales fell 45% to 166,744 vehicles. The company was hurt when its financing arm, GMAC LLC, began offering loans only to customers with top credit scores. In many areas of the country, only a third or so of all customers would qualify for loans, Mr. DiGiovanni said. ..... Ford reported its sales fell 30% to 132,248 ...

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