A Dismal Month for Car Industry

As if all the talk of bankruptcy wasn't enough, now the dismal sales of cars in March have been released. General Motors' stats are the most bleak, with a 45 percent decline from last March. Japanese cars sales also stunk: Toyota's sales dropped 39 percent and Honda's by 36 percent. Typically, an increase in sales occurs in March, as warmer weather lures buyers to showrooms. In an effort to boost sales, Ford has unveiled its "Advantage Program" which will pay customer's monthly payments for a year if they lose their job. There is one nugget of good news in the miserable data: "Despite the declines, GM, Ford and Toyota all posted double-digit improvements from February."