This October has been the worst month for the Big Three in the US auto industry. With the analysts predicting the decline of market to 45.5 %, down seven percent in comparison to last month, the numbers aren’t looking all that good across the board as well. General Motors, Ford Motor and even Chrysler have already announced the plunge in the year-to-year sales.

Detroit’s Japanese counterpart is feeling the pain as well with the October sales down with 25% at Honda and 23% at Toyota. However, the industry trackers feel that there is a pent up demand for SUV’s and truck market throwing a thin ray of hope in the already down trodden business scenario. With December being traditionally the month of trucks, the steady rise in the sale of trucks can be expected. It explains the Ford’s decision to spend a hefty sum of $110 million on research and upgradation of F-150 trucks.

Meanwhile, the struggling auto industry can expect some financial aid from the government to keep the industry afloat, of course the cost of which would definitely not exceed the cost resulting from the decreased tax revenues and unemployment payouts. Presidency of Obama would further add $25 billion for heavy research and development of fuel-efficient cars, thereby seeking to strike a balance between the consumer demands and environment issues.

Via Forbes