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July 19, 2008 2:12:41 AM CDT

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US Car Sales Sink in Slow Economy

Posted Mar 3, 08 9:45 PM CST in Business 

(Newser) – A tumbling US economy hit Ford, General Motors, Chrysler, and Toyota today as all four posted declining sales for last month, Bloomberg reports. Chrysler fell 14% as Ford dropped nearly 7% and GM suffered almost a 20% drop in light truck sales. "Primarily it's driven by the weak economy,'' one analyst said. "It's been difficult for people to refinance and get credit.''

Toyota, second in US car sales after GM, fell for the second consecutive month and sixth in eight. Honda, Nissan, Mercedes, and Volkswagon sales rose from last year, however, confirming predictions that foreign carmakers will suffer less than domestic ones.

Source Bloomberg

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An unsold 2008 Solara convertible sits outside a Toyota dealership in the southeast Denver suburb of Centennial, Colo., on Sunday, Feb. 3, 2008. Toyota Motor Corp.'s U.S. sales slipped 3 percent in February...   (Associated Press)
Unsold 2008 Highlanders sit at a Toyota dealership in the south Denver suburb of Englewood, Colo., Sunday, Feb. 17, 2008. Toyota Motor Corp.'s U.S. sales slipped 3 percent in February as sales of its...   (Associated Press)
Unsold 2008 F-150 pickup trucks sit in a long row at a Ford dealership in the south Denver suburb of Littleton, Colo., on Sunday, Feb. 17, 2008. Ford Motor Co. on Monday, March 3, 2008 said its February...   (Associated Press)
Unsold 2008 Taurus sedans are reflected in the grille of an unsold 2008 Edge crossover vehicle at a Ford dealership in the south Denver suburb of Littleton, Colo., on Sunday, Feb. 17, 2008. Ford Motor...   (Associated Press)
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US economy  • gas prices  • auto industry  • General Motors  • Ford  • Chrysler  • Toyota  • auto sales


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