The Big Three US car manufacturers are appealling for a total of $34 billion in government aid. Via Calculated Risk come the reasons why they're so desperate:

When I first saw the figure for November sales of cars manufactured in North America-- 236,000 units-- I thought maybe somebody had mistyped the first digit. Even 336,000 would have been a very bad month. But 236,000 is 17% below the dreadful October figure and 40% below the number sold in November of 2007...

Chrysler today reported total November 2008 US sales of 85,260 units, down 10% versus October 2008, and down 47% from the same month last year...

GM U.S. November light vehicle sales drop 41.3%

Ford, Lincoln and Mercury combined car sales fell 31.5% to 37,272 units while truck sales slumped 29% to 81,546 units

What's the link between the credit crisis (rather than the recession more generally) and falling car sales? Read this.