Regarding the European car market, the news has been bleak all year. Auto sales on the continent have fallen by 7.3 percent in 2012, but for October the drop wasn't as bad, at 4.8 percent according to Automotive News Europe.

The UK managed to increase sales by 12.1 percent, but other markets including Greece and Italy continued to show a weakening market for new cars. While many automakers saw double-digit drops (or close to it), Volkswagen saw sales dip by only .5 percent, holding the automaker's spot as Europe's top-selling brand. Ford is Europe's second-best-selling automaker, and it saw a drop of 8.3 percent in sales. One of the hardest hit automakers in October was Renault, whose sales plummeted 25.5 percent over last year.

Share This Photo X