US carmakers close out worst year since 1992

Major automakers reported that US sales in December plunged by more than a third, closing out the weakest year for the battered industry in its largest market since 1992.

Chrysler LLC led the industry plunge with sales that dropped by 53 percent in December, a month when the struggling automaker and larger rival GM fought to clinch a $17.4 billion bailout from the US government.

Toyota Motor Corp, the world's largest automaker, posted a sales drop of 37 percent, followed by Honda Motor Co at 35 percent and Ford Motor Co at 32 percent. GM and Nissan Motor Co saw sales drop by 31 percent.