As everyone knows, the auto industry is on the skids. In December sales of cars and light trucks fell by 36% to 896,124 vehicles, with Chrysler down 53%, GM down 31% and Ford down 32%. Toyota, with sales also down, is suspending production in Japan for 11 days.

The auto industry is facing two major problems: The first is whether to produce SUVs or cars. George Pipas at Ford seems to believe that customers will tend toward buying more cars in the coming year. The second major problem facing the auto industry is how to get customers into the showrooms.

The usual promotions to the consumer are "cash back" offers. But Hyundai has come up with the most creative and unique promotional program yet. Hyundai will let customers return their cars for up to a year if they lose their jobs or can't make the payments.

You can bet that as times get tough manufacturers and retailers will come up with a variety of "far out" deals. Whether or not they will work is anyone's guess.

Would you buy a Hyundai?

Can't make your car payments? Just give it back originally appeared on BloggingStocks on Tue, 06 Jan 2009 17:15:00 EST. Please see our terms for use of feeds.