Thus spake johngdole@hotmail.com :

>I hope nobody is paying full sticker for the average ride:
>
>http://www.freep.com/article/2008102...810280376/1014
>
>New vehicle transaction prices in the United States declined for the
>10th consecutive month in October -- after 44 months of increases from
>May 2004 to December 2007.
>
>The Power Information Network, a subsidiary of J.D. Power and
>Associates, on Monday reported the finding in its industry newsletter,
>PIN Insights.
>
>The industrywide decline means that automakers are bringing in less
>revenue and are likely to be less profitable when they report third-
>quarter earnings.
>
>"They have to reduce costs as quickly as they can to minimize this,"
>Tom Libby, senior director of industry analysis at PIN, told the Free
>Press.
>
>"It's a serious situation," he said. "It does have enormous
>implications."
>
>PIN attributes the decline largely to the soft environment: tight
>credit, low consumer confidence and relatively high gas prices. U.S.
>vehicle sales are down 12.8%, or 1.6 million vehicles, through
>September, compared with the same period in 2007. However, the market
>shift from large SUVs and other trucks to less-expensive, fuel-
>efficient small cars is also a factor.
>
>Worse yet, the decline in average transaction prices has been
>accelerating throughout the year. In the first three months of 2008,
>average transaction prices declined by less than 1.5%.
>
>From May through September, year-over-year price declines exceeded 4%.
>
>But from Oct. 1-19, the price drop reached a near-term record of 7.7%.
>
>Libby called the news a double whammy for the already-suffering
>automakers.

If we're talking about Detroit, aren't we talking about the idiots who
thought that they could build something that got 21 mpg highway
forever?