Will Detroit Throw Industry in Ditch?

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LOS ANGELES While the nation kept its eyes on Wall Street, banks and financial institutions last week, car alarms sounded in the auto industry, which was hit by a double dose of bad news: domestic sales reached a 15-year low through September, dipping below 1 million units, and dealers are now experiencing a credit crunch, per Todd Turner, principal analyst at Car Concepts, Thousand Oaks, Calif.

Specifically, Ford car sales were down 34 percent from September 2007 to September 2008, Toyota declined 37 percent in the same period of time, and Chrysler was down 40 percent from a month earlier and 37 percent on the year.

“When

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