Car Industry Carnage: October Sales Wrap-Up

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Sales results released yesterday confirmed October was another month of dismal vehicle sales in the U.S. market. Of the top players, General Motors fared worst, seeing sales plunge 45.4% from the same month a year earlier. Chrysler was down 34.9%, while Ford was down 29.2%. Of the import "big three," Nissan dropped 33% year-over-year, while Honda was down 25.2% and Toyota saw sales drop just 23%, no doubt saved by zero. The total light vehicle sales drop across the board comes out to just under 32%, which explains why crazy ideas like a GM/Chrysler merger are suddenly making sense. Sort of. [WSJ]