Bleak US Auto Sales Outlook Has Carmakers Leary of Tuesday’s November Report

2008-12-02 23:27:00 (GMT) (WiredPRNews.com - Business, Featured Stories)

Wired PR News.com – The auto industry sales report set to be released on Tuesday has some carmakers bracing for anticipated dramatically low numbers. The National Bureau of Economic Research made official what many had already suspected by stating on Monday that the country had been in a recession for nearly a year. As reported by the Associated Press, the current recession has left many in America without a job, and burdened with other issues that make taking on financial commitments such as automobile purchases too much to handle. In regards to the economic crisis, President George Bush recently told ABC “World News” “I’m sorry it’s happening.”

Tuesday’s report will exhibit the sales numbers for November and, as noted by the AP, will include those for the bailout seeking Big Three auto giants, Chrysler LLC, General Motors Corp, and Ford Motor Corp. Tuesday will also mark the day the three companies will submit to Congress their plans for long-term sustainability as requested for a $25 billion government loan.

Photo Credit: Christopher Ziemnowicz