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U.S. auto sales fell sharply in October, Bloomberg reported.

General Motors Corp., Ford Motor Co. and Toyota Motor Corp.’s U.S. sales all declined as reduced access to loans and a weaker economy hurt sales, Bloomberg said.

GM said its sales of cars and light trucks fell 45% from a year earlier, while Ford reported a 30% decline and Toyota a 23% drop, Bloomberg reported.

Honda Motor Co.’s sales fell 25% and Nissan Motor Co.’s declined 33%.

Chrysler LLC may post a 38% decline, according to analysts’ estimates, Bloomberg said.