Michigan Goes Down the Shitter

Looks like we are getting out of here just in time.

GM, the world's largest automaker, said its sales fell 22.2 percent, with trucks falling 31.2 percent and cars inching down 2.7 percent.

At Ford, sales of Ford, Lincoln and Mercury vehicles fell 35.2 percent. Truck sales tumbled 44.8 percent, while cars slipped 6.7 percent. Sales of F-Series pickup trucks, long the country's best-selling vehicle and the company's most important vehicle, shot down 45.6 percent.

DaimlerChrysler's Chrysler Group said its sales fell 37.4 percent, with truck sales off 40 percent and car sales off 23.5 percent.

Keep in mind that the U.S. automakers lose money every time they sell a car. If truck sales tank, they are in serious trouble, even if they can convince people to buy more cars. It helps that the Big Three are basically finance and insurance companies that use cars as a loss-leader, but if they have to keep slashing prices just to move inventory, even the money they make in the back office won't save them.