GLG News by Salvage Auto Auction Market Experts

AutoNation, the country's largest auto retailer, said Thursday its bottom line took a beating after a 15% drop in new-vehicle sales caused second quarter profits to drop by a third. This on the heels of Bill gates buying a chunk of the company.

It isn't just product woes troubling the domestic auto makers. Their captive auto lenders are all facing significant losses in their lease portfolios with higher depreciation costs for leased vehicles than they originally anticipated

One bright spot for Ford over the past several years has been its lending arm, Ford Motor Credit. Now that division may be in trouble.

On the heels of Gm's plan to cut $10 billion in costs over the next 18 months, there are reports that Japanese auto giant, Toyota, has problems also.

How desperate are U.S. automakers getting? Burning cash, cutting production, trimming white collar jobs, unloading some brands, others on shaky ground. Believe it or not, there have even been rumors of a merger between GM & Ford.

With a depressed car market of "perfect storm" proportions dominating the headlines everyday, what do the people in the trenches have to say about what is happening?

With total losses exceeding $15 billion in just the past two years alone, Ford was clearly desperate. It had no choice. It needed cash, and fast. 

The old saying was: "As GM goes, so goes the nation." Well, times have changed, now it seems: "As GM goes, so goes their suppliers."

June car sales results left auto industry executives scratching their heads trying to come up with anything positive about results that left the industry running at a seasonally adjusted 13.58 million units.

With the uncertainty in the marketplace, is there any automaker that offers a compelling reason to feel good about its future?  Yes...It's Honda.