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Three former kings of the industry were brought to their knees (on their knees in carpeted private jets, but still) and reports are saying a Detroit sales slump of 31 per cent in December capped a year of market woes.
Despite dreary headlines, however, America really seems to have yet to give up.
I spent two weeks in the States with my family over Christmas and, running the risk of sounding like an Obama sound-bite, there is an odd sense of hope about the place – the prevailing attitude was very different to that during my last visit this past July.
Media images of businessmen clutching their heads in despair have been replaced by the President-elect’s toothpaste smile and headlines about his new New Deal.
After eight years of feeling victimised and frightened, Americans are empowered again. The United Autoworkers’ union has been able to stop railing against forces beyond their control and take responsibility for itself and its members.
In a statement published just after the New Year, UAW president Ron Gettelfinger said: “When we went to Washington seeking to help so that US carmakers could weather the current economic crisis, many used this as an excuse to beat up on American companies and American workers. Then a funny thing happened: a lot of somebodies stood up to defend us.
“Now that America has decided to invest in the domestic auto industry, we have a promise to keep: We won’t let you down. We’re going to do the hard work necessary to rebuild our industry.”
Fingers crossed, eh?