July 1, 2008

GM on Top of Falling Month in Car Sales

General Motors Corp. held on to its position atop U.S. auto sales in June, outselling closest rival Toyota in a month marked by steep declines in car sales.

Chrysler LLC fell hardest with a 36 percent drop in sales; Ford Motor Co. sales dropped 28 percent, while GM and Nissan sales fell 18 percent.

Sales were down 21 percent at Toyota, the International Herald Tribune reported.

GM outpaced Toyota by 72,703, boosted by a no-interest financing promotion near the end of the month, the Tribune reported.

As consumers react to escalating gas prices, sales of SUVs, trucks and minivans have borne the brunt of the declines.

Truck sales dove down 38.9 percent at Toyota and Ford sold 55 percent fewer SUVs and more than 40 percent fewer F-series pickup trucks, which have led U.S. vehicle sales for 26 years, the report said.