GM posts 45 percent drop in October sales

General Motors says its October U.S. sales plummeted 45 percent because of weak consumer confidence and tight credit markets.
   
The Detroit-based automaker said Monday that it sold nearly 169,000 light vehicles, down from about 307,000 in the same month last year.
   
Car sales fell 34 percent, while light truck sales dropped 51 percent.
   
Despite the drop, GM’s total still beat Toyota Motor Corp.‘s sales. GM’s Japanese rival offered zero-percent financing on several models for most of last month and sold about 152,000 vehicles, a drop of 23 percent.
   
Ford Motor Co. says its U.S. auto sales plummeted 30 percent in October.