Government Motors Sales Drop 33.4% In June
GOvernment Motors reported a 33.4 sales drop in June compared to last year. Ford sales dropped 10.7% however the company reported a gain in market share.
Yahoo Finance reported, via Free Republic:
Ford US sales fall 10.7 pct in June, while GM drops 33.4 and Chrysler tumbles 42 pct
Ford’s June sales showed signs of stabilization, as the healthiest Detroit automaker posted its smallest sales decline of the year at 10.7 percent. It also said it gained market share. But Chrysler Group LLC, just weeks after exiting bankruptcy protection, reported a 42 percent drop in sales, hurt by a big cut in fleet sales and declines in all its models except the Dodge Challenger muscle car.
GM reported a 33.4 percent sales drop, slightly larger than the 30 percent drop it reported for May before it entered bankruptcy protection. GM plans to sell or close Pontiac, Saturn, Hummer and Saab to focus on four core brands — Chevrolet, Cadillac, GMC and Buick.
June sales from other automakers indicated that the industry downturn has begun leveling off. Toyota’s U.S. sales fell 32 percent in June to 131,654 units — a smaller decline than in previous months for the Japanese automaker.