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GM and Ford post massive declines in October sales

By Rob Sturtz, November 3, 2008

Detroit auto giants General Motors and Ford each posted their October sales numbers today and they aren't pretty. According to MarketWatch, GM posted a 45% decline in October sales, blamed mostly by the credit crisis. "If you adjust for population growth, this is probably the worst industry sales month in the post-WWII era", says Mark LaNeva, head of GM sales and marketing.

Ford posted a 30% decline in their U.S. auto sales as well, but Ford looks to the launch of their new F-Series pickups to turn things around. Toyota and Honda posted less significant losses but still declined more than 20% each.

It looks like October didn't spare any manufacturers from the decline.

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