November car sales numbers are coming in and they’re what you expect them to be — horrendous. Ford is down 31% month-to-month with last year. Toyota fell even further at 33.9%. That's successful compared to GM's 41% drop. Even Honda is down 31.6%. What's going on?
Carpocalypse Now is going on, that's what! The entire auto industry is screwed at the moment, and it's not just the U.S. automakers. Since Toyota’s and Honda’s numbers are in the crapper it points to what we've been saying from the start. This is less an issue of a problem with our dear domestic car makers and more of a problem with a lack of desire on the part of consumers to buy from any company. People have either already lost their jobs, ot they're scared of losing their jobs — in addition to their houses and their way of life. When people are that scared, they just don't spend money. It's as simple as that.
It also doesn't help there's little in the way of accessible credit so even those who want to buy cars aren't able to buy. Don't mind us. We're just going to head over to hide in a cave somewhere building our hobo costume for Depression 2.0. [source: Ford, Toyota, GM, Honda]