Their is more bad news for the automobile industry. The current recession has caused the American people from spending money on automobiles. The sales for "GM's sales plummeted 53% in February from a year earlier, Ford's fell 48%, Toyota's dropped 40% and Nissan's declined 37%"(bbc). From these statistics it is obvious that it is not just American companies that are suffering but the whole industry in general. The current job security in America has caused Americans to fear spending money. The American people would rather hold onto their money until they feel safer to spend. Now all the companies are looking for funding of some type to combat the current economic crisis.
http://news.bbc.co.uk/2/hi/business/7920379.stm
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