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December 2, 2008 7:48:08 PM CST

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Sales Skid Again for GM, Ford, Toyota

Posted Sep 3, 08 3:10 PM CDT in Business 

(Newser) – General Motors, Ford and Toyota reported dramatic declines in sales for August stemming from the weak US economy and record gas prices, Bloomberg reports. Ford's domestic sales plunged 27% and GM's 20%, and both automakers will cut second-half production by the tens of thousands. Toyota fared better, down just 9.4%, though all saw large declines in the sales of SUVs.

The dip in demand could spell a larger market share for Japanese automakers, analysts say. But some expect the slump to reverse as gas prices level out and "panic shoppers" move away from fuel-efficient vehicles. One GM rep said the company expects "some resurgence in demand for full-size SUVs and pickups" next year.

Source Bloomberg

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Ford's Louisville, Ky., assembly plant is slated to begin production of smaller, fuel-efficient cars to sell in the US by 2011.   (AP Photo)
General Motors saw US sales slump 20% in August.   (AP Photo)
Toyota Motor Corp. President Katsuaki Watanabe, center, speaks to reporters about its lowered sales target for 2009.   (AP Photo)
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auto industry • economy • General Motors • Ford • Toyota • auto sales • SUV


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