Auto Sales Plunge, Led by Decline in Pickups, SUVs
Three major automakers reported their June sales plunged as fuel prices reached record levels, Bloomberg reported Tuesday.
General Motors Corp., Toyota Motor Corp. and Ford Motor Co., the biggest auto retailers in the United States, said their June sales fell by 19%, 28% and 21%, respectively, led by declines in larger vehicles including trucks and sport utility vehicles, Bloomberg said.
Each of Ford's four sales divisions fell by at least 22%, while Honda Motor Co. and Volkswagen AG, which rely on autos for the bulk of their sales, each rose about 1%, Bloomberg reported.
For the second straight month, Ford’s F-Series pickup, formerly the best-selling vehicle in the U.S., was outsold by four automobile models: two by Toyota and two by Honda, Bloomberg said.
