As noted back on 9/21, auto sales were in the tank after the “cash for clunkers” program stopped. Individuals in the auto sales noted the drop off was back to early spring sales numbers.  Now we know just how bad sales were…

General Motors Corp. says sales fell 45 percent from a year earlier. Chrysler Group LLC says sales slid 42 percent. Ford Motor Co. was down 5.1 percent, breaking a two-month streak of gains.

Cash for Clunkers created a false demand, GM and Chrysler continue to circle the drain, and it will only continue as there are no drivers (no pun intended) for the market to turn.

Related posts:

1. December Auto sales are miserable, and we knew this, but the surprise of the pack was Chrysler
2. An update on auto sales, the gall of GM and ADP Unemployment report
3. Cash for Clunkers, False Demand
4. Japan auto production marks worst drop since 1967
5. Comcast, Tim Geithner's “inspiring confidence” and Ford and GM see positive signs in the auto market