GM Sales Plunge 49 Percent, Ford 40 and Toyota 32 Percent

The sales numbers from last month have been released and they are not good. Nearly every major automaker was down in January compared to January 08′.

Chrysler lead the pact with a 55 percent drop last month. GM’s sales were off by 49 percent and Ford declined 40 percent.

Japan’s major automakers didn’t escape the dismal auto sales with Toyota being down 32 percent, Nissan’s sales were down 30 and Honda’s were off by 28 percent.

The news wasn’t bad for everyone though with Subaru posting an 8 percent increase, its second month in the row of sales increases. Hyundai also posted a 14 percent sales increase. Hyundai attributed its sales improvement to its new program which will take a owner’s car back if they lose their job in the first 12 months of ownership.

“This program gets to the root cause of today’s economic concerns — fear of job loss,” Hyundai regional general manager Peter DiPersia said in a statement.

Full Story: Yahoo