Toyota Motor Corp and Chrysler LLC said federal income-tax deductions for interest on car loans could help stem the slide that sent US sales to their lowest monthly total since 1991. General Motors Corp the biggest U.S. automaker also said today it had studied the idea of boosting auto demand through a government-backed program to encourage scrapping older vehicles.
The companies floated the ideas after posting October sales totals that GM called the worst since 1945. While the automakers said they hadn't actively lobbied for such changes, the calls added to mounting pressure for government aid as GM pursues a merger with Chrysler.
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