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US car makers are in serious trouble. Their sales fell about 35% in January compared with last year. Ford Motor Company sales dropped 42%. General Motors reported a 49% drop. But Chrysler was hardest hit. Their sales went down 55%.

This decline in sales is not just limited to US car makers. Toyota from Japan is the largest car maker in the world. But it reported a 32% drop in US sales compared to last year. Nissan Motors dropped 30%, and Honda sales fell 28%. On the br...