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GM and Ford troubled in US markets

Shares in Ford and General Motors at the New York stock exchange took a dive yesterday, as falling vehicle sales cast doubt on the carmakers’ ability to survive the current financial crisis.

GM’s shares dropped by 16%, while Ford’s fell by 10% to levels last seen in the 1950s, reported The Guardian.

American government has agreed £14bn of loan guarantees to help the motor manufacturers stay secure but experts are starting to think this may not be enough.

Ford and GM, along with the privately-owned Chrysler have all been struggling to cope with a shift towards the popularity of smaller, more fuel-efficient vehicles.

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