Automakers post steep sales drops for March

Detroit, MI – Detroit, MI (AP)
March proved to be another dismal month for U.S. auto sales, as low consumer confidence and job insecurity kept buyers away from showrooms.

General Motors led the slide with a 45% U.S. sales plunge compared with a year earlier, while Ford reported a 41% drop.

Sales at Toyota and Chrysler both dropped 39%, while Honda reported a 36% decline.

Detroit-based GM sold a total of 155,334 light vehicles, while Ford sold a total of 131,102.

Ford's total came in slightly below that of Toyota, which reported U.S. sales of 132,802 units.

Despite the declines, GM, Ford and Toyota all posted double-digit improvements from February.

That's when the U.S. sales overall hit their lowest point in more than 27 years.