It’s been a mixed day in the world of the American auto industry. While Ford Motor posted huge sales for November — propelled by a strong demand for SUVs — General Motors has been forced to make the unusual offer of buying back cars from consumers. Tom Krisher at the Associated Press reports that GM is taking action in response to news that its highly touted electric Chevy Volts have been found to catch fire: In an exclusive interview with The Associated Press, CEO Dan Akerson insisted that the cars …
Automobile sales have plummeted across the board for the month of September. Not only were sales down for Chrysler (33%), General Motors (16%) and Ford (34%), but Asia-based brands Toyota, Honda and Nissan fell 30% over the course of the month. Sales in European and Asian markets are down as well. Can we blame the credit crunch? That’s certainly part of it. Todd Greenbaum, general sales manager for Castle Hyundai in New Castle said, We’ve had people with what seemed like OK credit, but we still couldn’t get them a …
