Auto industry sales and employment in collapse

2009 Ford F-150 production line in Claycoma, MO is running at reduced capacity until market conditions improve. Beginning in 2005, the US automobile marketplace began its decline and is now accelerating to a level not seen in 27 years as the worsening US economy continues to decimate automobile demand. One of the key contributors is Housing prices. As prices declined, the ability to tap home equity for a larger or even second discretionary automobile purchase has been eliminated. Add in the high cost of fuel last summer reducing the sales of the industries most profitable vehicles is yet another reason for the severe decline in both sales and profits.