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High-tech company expands downtown
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Region's stocking full of ideas for those on the prowl for holiday gifts
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Police accuse bank robbery suspect of gobbling up note (with dashcam video)
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Retired firefighter who broke color barrier among those being honored
Angel Food Ministries helps stretch grocery dollars
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Cat-loving chihuahua suckles seven abandoned kittens
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For your Saturday entertainment …
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Two blowouts, one night
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Seven players added to Tribe’s 40-man roster
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Holmgren expresses interest in Browns position
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Singletary update
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Gameblog: Cavs at Indiana Pacers – Here’s to LBJ and Free Throws
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OSU – Michigan college football rivals meet in Baghdad
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Bowling season starts today
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Headed For Disaster
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Will Health Care Reform Pass?
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Silverdome Potentially SOLD!
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George is looking for a Thanksgiving buffet in Akron.
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Steely Dan Plays "The Royal Scam" at E.J. Thomas Hall
HRLite House:
Colloquium at University of Akron
Akron Gamer:
Nintendo's Mario endures even as games come and go
GM sales plummet 45 percent, Ford by 30 percent in worst month in decades
By Tom Krisher
and Bree Fowler
Associated Press
Published on Tuesday, Nov 04, 2008
DETROIT: General Motors' U.S. sales in October plunged 45 percent and Ford's dropped 30 percent, as low consumer confidence and tight credit combined to scare customers away.
The results released Monday — along with drops of at least 23 percent for Toyota, Honda and Nissan — appeared to fulfill prophecies that the industry's sales as a whole will hit their worst level in decades.
Mike DiGiovanni, GM's executive director of global market and industry analysis, said the automaker expects last month was the industry's worst U.S. sales performance since 1975 with only 851,000 vehicles sold, for an annual rate of 10.7 million vehicles.
''This is clearly a severe, severe recession for the U.S. automotive industry and something we really can't sustain,'' DiGiovanni said.
GM said light-truck sales tumbled 51 percent compared with the same month last year, while demand for passenger cars fell 34 percent.
The results were less severe at Ford, which said its Ford, Lincoln and Mercury car sales were off 27 percent, while light-truck sales for the three brands were down more than 30 percent.
Overall, GM sold 168,719 vehicles, while Ford, including its Volvo brand, sold 132,278 light vehicles last month.
If GM's sales were adjusted for population growth, October would be the worst month of the post-World War II era, DiGiovanni said.
GM's total was enough to keep it ahead of Toyota for the No. 1 U.S. sales spot. Toyota, which rolled out an offer of zero-percent financing during the month, sold 152,101 vehicles,
down 23 percent from a year earlier. The drop included a 34 percent decline in light-truck demand, while car sales fell 15 percent.
Honda sales fell 25 percent to 85,864 vehicles, as truck sales fell 29 percent. But sales of cars from its Acura luxury division rose 6 percent.
Nissan North America Inc. sold 56,945 vehicles, a 33 percent drop, including a 52 percent decline in truck sales.
Ford officials said that as bad as October sales were, it's probably not the bottom.
Ford likely will announce car and crossover vehicle production cuts Friday.
DETROIT: General Motors' U.S. sales in October plunged 45 percent and Ford's dropped 30 percent, as low consumer confidence and tight credit combined to scare customers away.
Get the full article here.
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