But Toyota is better prepared than maybe any other large car maker to weather this storm.
Experts say auto sales still likely haven't hit rock bottom(Daily Tech) While examining the plight of the domestic automakers -- GM and Chrysler (and to a lesser extent Ford) -- many blame inefficient designs from years past or the added expenses of the high union pay or benefits. What many forget is the base reason why these companies are in such bad trouble -- cars just aren't selling.
After a miserable January and February, sales in March plunged again. And it wasn't just domestic automakers either; sales of Toyota, Honda, General Motors and Ford all fell at least 36 percent for the month. There were some small signs of hope -- all of companies posted small gains from January and February and all of them beat their forecast -- except for Toyota.
Auto sales are at their lowest levels in 27 years, but auto executives are still wary of saying that they've hit rock bottom. But as GM and Chrysler LLC fight to avoid bankruptcy without their requested bailout loans, some of their employees took heart at the small bright spots in the bad news. Mark LaNeve, vice president for GM North America vehicle sales states, "Maybe we're starting to...show some signs of life."
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