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US auto sales in March fell 37% from a year ago led by General Motors with 45% compared with March 2008, Ford’s sales dropped by 41% and Chrysler’s by 39%.Toyota at 39%, Nissan down 38% and Honda dropped 36%. (BBC/Bloomberg)

President Barack Obama believes a quick, negotiated bankruptcy is the most likely way for General Motors Corp. to restructure and become a competitive automaker, people familiar with the matter said. (Bloomberg)

General Motors Corp. faces a structured bankruptcy managed by the U.S. government if the company can’t meet a deadline to drastically reduce debt in the next 60 days. (Bloomberg)

Toyota, second in U.S. sales to General Motors Corp., expects to have a 45-day supply by April or May compared with a record 100-day supply of cars and trucks at the end of 2008, Jim Lentz, president of Toyota Motor Sales USA, said in Washington yester-day. (Bloomberg)

Ford-UAW deal cuts wages to $55 an hour from more than $70 per hour. That figure is expected to drop to about $50 per hour by 2011. (Reuters)

Ford Motor Co., seeking to survive without federal aid, became the first U.S. carmaker to gain a new round of concessions from the United Auto Workers union as members ratified reductions to compensation and benefits. (Bloomberg)

Toyota Motor Corp’s auto parts suppliers may face bankruptcies if the Japanese government does not extend its loan facilities to them. (Bloomberg)