Financial Times FT.com

US car sales worst in 25 years

By Bernard Simon in Toronto

Published: November 4 2008 02:00 | Last updated: November 4 2008 02:00

Sales of light vehicles in the US sank to their lowest level in a quarter of a century last month, with generous discounts failing to offset evaporating consumer confidence and scarce credit.

"This is clearly a severe, severe recession in the US auto industry," said Mike DiGiovanni, General Motors' sales analyst. "We're much more concerned than we were a month ago."

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this