And auto sales, fueled by zero-percent financing offered by manufacturers, are surging and could even hit a record this month.

CNN: Amid economic turmoil, inklings of optimism

The major auto makers will soon have their own zero-emissions vehicles, which Mr. Musk says will end Tesla's credits boom by year end.

WSJ: Review & Outlook: The Other Government Motors

Instead, GM has become what one might call America's subprime auto maker, increasingly dependent on cheap credit, fueled by the Federal Reserve's near-zero interest rate policy, to support its made-in-China production strategy.

WSJ: Edward Niedermeyer: Welcome to General Tso's Motors