SAN FRANCISCO Ford Motor Co. and General Motors Corp. on Wednesday posted March U.S. vehicle sales declines in excess of 40 percent that, while better than lowly Wall Street targets, still served as a stark reminder of an industry in crisis.
Separately, Chrysler, Honda Motor Co. and Toyota Motor Corp. all fared better but still posted significant declines.
Ford, clinging to its position as the only domestic automaker not on federal life support, reported a 41 percent drop. Rival GM followed shortly thereafter with a 44.7 percent drop as it toils to justify up to $30 billion in government loans.
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