January sales plunge could collapse Big 3

January sales plunged 55 percent at Chrysler; 49 percent at GM, the largest U.S. automaker; and 40 percent at No. 2 Ford. Toyota Motor Corp. dropped 32 percent, Honda Motor Co. fell 28 percent and Nissan Motor Co. was down 30 percent.

The three U.S.-based automakers “can’t survive if these rates continue," Jesse Toprak, director of industry analysis for auto-research firm Edmunds.com in Santa Monica, California, said in a conference call today. “But not just the big three. All automakers are going to suffer if this continues."