[TheDude]

Auto Sales Slide for the 11th Month in a Row (Business Week)

$this->bbcode_second_pass_quote('', 'U').S. auto sales in September fell 27%, to 965,160—the first submillion sales month since January 1993—with Detroit automakers getting hammered the worst as consumers stayed away from showrooms in the last week at levels not seen since the terrorist attacks in September 2001.

Ford (F), which saw sales drop 34%, said consumer fear of taking the plunge, on a big-ticket purchase like a car, was fueled by the national discussion over the congressional economic bailout debate in the past week, on top of already bad economic data. "I don't think anyone can say where the bottom [of the current downturn] might be," said George Pipas, Ford's chief analyst. Toyota (TM), usually a stalwart in tough economic times, saw its sales fall in September by 32%.

General Motors (GM) reported sales down 16% in September, but said its market share in September in was probably at or more than 29%, it's highest level since mid 2005. GM sales chief Mark LaNeve said the automaker's performance in such an anxious economic climate looked "strong." "If I had seen these numbers six months ago, I think I would have jumped out the window, and I'm on the 37th floor," said LaNeve.