Automakers See May Sales Slump - Black Enterprise

Automakers See May Sales Slump

The auto industry is experiencing the roughest financial period in its history, with the Big Three reporting less-than-favorable sales for May. As General Motors and Chrysler headed to bankruptcy court earlier this week, and with President Barack Obama’s plan to take a 60% stake in GM, the industry has seen major changes that many hope will revive its future.

In their monthly reports, all the major automakers spoke optimistically about economic conditions, and believed that the latest developments would bring a better future.