The Easy Money spigot has been turned off (loans in amounts far beyond the borrowers' means to pay off). Hopefully this is a permanent reduction in sales for all durable goods to a more affordable, practical level.
Automakers, just like home builders got used to selling luxury models to people who can't afford them. Easy loan money means more buyers, means higher prices. The price of new cars and trucks reached ridiculous levels. I live in an area with a large population of illegal Hispanic immigrants doing lawn care and agricultural jobs. Yet on weekends I can see a flood of Hispanics driving very new and expensive F-350, F250, SUVs, and 18" custom wheels and low profile tires. Not all of them are illegals or doing labor jobs, but there are way to many $30K+ vehicles being driven around by the "poor downtrodden" day laborers. I make $120K/yr and many of them are driving nicer trucks than I would ever dream of buying (an old workhorse Ford or Chevy truck is fine by me).
As the easy loans dry up the units sold will drop and the prices will eventually be forced to drop until the hyper-inflation from the bailouts kick in which will further dry up the number of new buyers when their dollars earned won't buy an inflated priced vehicle.
On top of those basic economic pressures the US automakers also have absurd labor costs that no other American industry (except Congress) operates under. There has to be a MAJOR restructuring of defining what is an affordable car/truck, labor costs, and planning for much lower sales volumes of new vehicles. I think we have seen "Peak Cars".