U.S. car sales plunge 37%; automakers blame tight credit
10:27 AM Wed, Feb 04, 2009 | Permalink
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DETROIT -- Auto sales in the U.S. took an unsettling drop of 37.1% in January, compared with January 2008, falling to a 28-year low, according to USA Today. The slide also toppled the U.S. from its position as the world's largest car market: For the first time, more cars were sold in China in one month than in the U.S. Limited credit availability and weakened consumer confidence continue to pummel sales, which fell to 657,000 vehicles, down from 1.04 million a year ago, according to data-tracking firm Autodata. Lower fleet sales also contributed to the gloomy results. 
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