Sales Skid Again for GM, Ford, Toyota

Detroit heavies off at least 20% each; Japanese giant down 9.4%
By Michael Foreman,  Newser User
Posted Sep 3, 2008 3:10 PM CDT
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)
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(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. (Read more Ford stories.)