At Nissan, executives say they expect conditions to be tough for at least a year
In most corners of the world, people have a love affair with the car.
But an increasing lack of money in their pocket is putting a strain on that relationship.
The knock-on effect means that all across the world, car-makers are seeing sales and profits fall.
And they are looking for ways to slash costs and trim their work force.
On Thursday October 23, BBC World Service News examines how the credit crisis is affecting the motor industry.
End of Section
Paying cash to buy a new car just isn't an option for most people. They depend on financing.
Consumers are finding it increasingly difficult to finance big purchases
But because of the credit crisis, loans are harder to come by.
Jesse Toprak is a director of the consumer car website Edmunds.com.
He says potential car owners face an uphill battle:
Listen Listen to Jesse Toprak (44 secs)
But many people are reluctant to even consider a loan in the first place:
Listen Listen to Jesse Toprak (59 secs)
The BBC's Peter Bowes visited a car show room in Los Angeles, USA.
Listen Listen to Peter's report (3 mins 40 secs)
End of Section
Asia made 29m cars in 2007, it is the biggest car-producing region in the world.
Japan makes around 10 million of those cars, making it still the world's biggest car exporter.
The BBC's John Sudworth met Simon Sproule, Corporate Vice President of Nissan Motor Company in Tokyo.
Listen Listen to the interview with Simon Sproule (2 mins 45 secs)
End of Section
In South Africa, car component manufacturers are already feeling the effects of the credit squeeze.
Jonah Fisher reports from a factory near Pretoria that produces leather seats for luxury cars in Europe.
Listen Listen to Jonah's report (3 mins 24 secs)
End of Section
Bratislava in Slovakia has been called the 'Detroit of the East' because of the high number of car manufacturers there.
The BBC's Rob Cameron reports from outside a huge Volkswagen plant on the outskirts of Bratislava:
Listen Listen to Rob's report (3 mins 30 secs)
End of Section
Brazil's car industry has boomed in recent years off the back of the country's strong economic growth.
The BBC's Gary Duffy in Sao Paulo has been speaking to Rogelio Goldfarb, a director for the Ford car company in Brazil:
Listen Listen to Rogelio Goldfarb (2 mins 47 secs)
End of Section
Click here for further coverage of the turmoil on the global financial markets
