A car question: Why is Toyota in financial trouble?

[vision63]

It seems to me that soft goods like clothing are practically being given away, I haven't felt overwhelmed by any deals otherwise. J.C Penny was practically giving away their clothing last weekend.

[sunfalcon]

Last year there were 16 MILLION cars sold in the US. This year it's around 10-11 million. Someone is going to go out of business.

That's a SERIOUS decline in sales. All of the automakers are feeling the pain.

[Racer X]

A friend bought a Chevy PU in the spring. He talked to the sales guy while they were processing the papers about how financed sales were doing. GM was, for a while, not allowing the rebates to be used in lieu of a down payment. So people couldn't get a car/truck with no down and finance it. Because the second you drive off the lot, you are upside down on your loan. I am sure it was typical with other makes as well. GM is now allowing it again. Its getting very desperate for the industry, not just the big 3.