Deepening concerns about the economy and tight credit dried up demand for cars and trucks in early October, leading some forecasters to predict a drop in the monthly selling pace to the lowest level in more than 20 years.
"We're seeing a real weak month," said Jim Farley, Ford Motor Co.'s head of sales and marketing. He told reporters that the government's initiatives to stabilize the banking system made him more optimistic but that he hadn't seen any tangible effect from the rescue effort on auto sales.
Several analysts said the government's move to inject $250 billion into banks to pump more credit into the system would benefit the economy. But they said it would take time to restore the confidence of consumers alarmed by plunging financial markets and mounting job losses.