GM Is 36% Short Of March Sales Quota

This is not the way to avoid bankruptcy. GM, which will announce March car sales tomorrow, has told its dealers the company has achieved less than two-thirds of its retail sales goal for this month. GM, which had a March sales target of 143,800 Azteks (I jest, I jest), has only sold 91,400 through yesterday - a number which will disappoint even the worst case scenarios, which project the soon to be bankrupt automaker as declining by 48%.

Together with comparable ugly numbers from Ford and Chrysler, the March SAAR with likely be below the 8.8 million consensus- a number last seen in December 1981. This compares with a 9.6 million January and 9.1 million February SAAR. Other consensus estimates are for drops of 46% at Ford and 45% at Chrysler, together with 41% for Toyota and 42% for Nissan.