U.S. auto industry bracing for September sales results

Fall sales are expected to slump for U.S. automakers, as high gas prices continue to depress the market for previously profitable SUV models.
American manufacturers and their suppliers could cut as many as 75,000 jobs in the current round of restructuring. GM alone plans to cut 25,000 jobs by 2008. Plant closures and supplier bankruptcies are expected.

Asian brands have steadily increased U.S. market share, with September's number predicted to be 43 percent by one Wall Street analyst. DaimlerChrysler's Chrysler Group is starting to recover from its last restructuring, and sales are holding steady, helped by popular new models.

However, analysts predict GM sales will decline 30 percent in September, while Ford sales could be down as much as 20 percent. Full details here and here.