Sales Skid Again for GM, Ford, Toyota

Detroit heavies off at least 20% each; Japanese giant down 9.4%
By Michael Foreman,  Newser Staff
Posted Sep 3, 2008 3:10 PM CDT
Sales Skid Again for GM, Ford, Toyota
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, 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. (More Ford stories.)

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