GM, Ford Credit Ratings Lowered to 'Junk' Status: "S&P cites their loss of market share but says there is no 'immediate risk of bankruptcy.'"
Unbelievable, but it happened.
I hate to tell you "I told you so...", but read my post from Wednesday, May 4th. I wonder if this means there will be less overweight fines now. Maybe we'll start having 15 car carriers, because everyone will start buying the Cooper Mini, Chevy Metro and Toyota Prius. Think I'm kidding?
SUV sales down by 17% during the last quarter as compared against last year's sales. I think auto manufacturers and those who service them will be in for a wild ride.