In response to the lowest annualized sales rate in North America in 27 years for February, automakers will cut production to just 4.1 million vehicles for the first half of 2009, a drop of 41 percent from 2008.

Sales in February fell to 689,794 units for an annualized rate of 9.1 million. The pain of falling numbers was distributed across all major manufacturers. In February, Toyota sales dropped 39.8% in spite of heavy incentives, with truck sales being especially hard hit, with the Tundra down 60.2% and the Sienna 52.6%.

Embattled General Motors saw a decline of 53.1%, with the survivability of fate of Saab, Hummer, and Saturn being called sharply into question. Ford's numbers fell 49.5%, with the poorest performers being the big trucks, the Navigator, Explorer, and F series.

Chrysler managed to control its inventory with a virtual production shutdown in January, but still saw sales fall 44% even in the face of incentives averaging $5,566 per vehicle. Honda was down 38% and at a dismal dip of only 37.1%, Nissan was actually the best performer among the Big Six with sales of the Infiniti FX and Nissan Rogue actually increasing.

Large dealerships have, in turn, dramatically reduced their vehicle orders, with AutoNation cutting its orders by 60% for the first four months of 2009.