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Ford To Idle Four Factories Due To Slowing Car Demand, Rising Inventories

Over the weekend we recapped some of the less than impressive moments in the recent US car industry history, which suddenly appears to be bombarded with a barrage of bad news: starting with Ford's disastrous August sales when he company admitted "sales have reached a plateau", continuing to the surge in delinquent subprime auto borrowers hitting nearly a 7 year high as the marginal creditworthy car buyers disappears, then noting the record $4,000 in industry-wide new car incentives in September as preventing a plunge in last month's auto sales, and recalling last week's downgrade of the US auto sector by Goldman which said that the US "cycle has peaked".
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