Auto Sales have already cratered to near Great Recession lows, and will no doubt be even lower by the end of April.
Also, the ways things are going at Ford, they'll be in bankruptcy court by the Summer. They have a furniture CEO running the company who's completely out of his element, their stocks are now rated junk and they're begging for things such as another Cash for Clunkers.
Ford's U.S. Sales Chief Wants a New "Cash for Clunkers" Initiative: Here's Why It Won't Help
Ford’s Debt Was Cut to Junk. This Is Why the Stock Is Rising.
GM and Chrysler are somewhat better because they got rid of much of their debt in bankruptcy and GM specifically has exited the world to fluff up its balance sheets. But with auto sales in both the US and China (GM's primary markets) being an unmitigated disaster, and the losses they were still recovering from after the plant shutdowns last fall, they're not far behind from being in Ford's position.
And then there's the city of Detroit. They already have a $300 million dollar budget hole to backfill, and that's going to mean more cuts to the city's already bare bones services.