Automakers post dismal sales results

The numbers aren't good.

But I don't think anyone expected automakers - foreign or domestic - to post good results. Ford's sales for 2008 fell 21 percent from a year earlier. Toyota's were off 16 percent and GM's 2008 sales were down 23 percent from the year before. Sobering results, to be sure.

John Symes, who owns the Symes Automotive Group in Pasadena, said the $17 billion bailout for the auto industry is certainly welcome. But it's not going to cure all of the auto industry's woes.

"It's not anywhere near enough money for a turnaround," he said. "The biggest news for us was that GMAC was able to get status as a bank and get some TARP funds so we can start financing cars again."

Many GM dealers were on the ropes, according to Symes, and wouldn't have been able to keep going without this recent cash infusion. That's serious.

I certainly feel for the automakers and dealerships, and I don't even want to think how devastating the ripple effect of a failed auto industry would be. No one wants that. But I have to confess .. I almost wish I needed a new car.

 Because if ever there was a time when deals could be had, it's now. I'd probably go for something modest ... kind of like this ...