BUSINESS
12/01/2008 05:12 am ET Updated May 25, 2011

October Auto Sales May Have Hit Two-Decade Low

U.S. auto sales are expected to plunge to the lowest levels of the year in October and possibly the slowest running rate in two decades, with no certainty of when consumer confidence will return.

The U.S. automakers, struggling to preserve their shrinking pools of cash as they fight for survival, are poised to post sales declines of up to 40 percent, with the overall market sagging potentially to levels not seen since the 1980s, when the United States had 60 million fewer residents.

Read more on Reuters