US auto sales tank on higher petrol costs

Business News

Jul 1, 2008, 19:50 GMT

Washington - Sales by major automakers plummeted in the United States in June as consumers shied away from fuel-guzzling models in the face of 4 dollar per gallon petrol, monthly sales figures showed Tuesday. Monthly sales slid 19 per cent at General Motors, the nation's largest automaker from the year-earlier period, and the decline was an even steeper 28 per cent at Ford Motor Company, the companies said in statements. Toyota saw sales fall 21 per cent. By one measure sales were set to fall to their lowest level in more than 15 years, Bloomberg financial news reported. White House spokesman Tony Fratto told reporters that the drop in sales came as consumers changed their preferences in light of a weaker US economy and rising petrol prices. 'That means that the automakers are going through a real transition,' he said. 'They're changing their vehicle fleets to try to respond to the tastes of customers out there. And so there's no question it's a tough time, not just for US automakers, but even for foreign automakers making cars in the United States are experiencing some of the same challenges.' Sales also fell for Chrysler (36 per cent), BMW (11 per cent) and Acura (16 per cent). But sales figures rose 14 per cent at Honda, 13 per cent at Mercedes, 8 per cent at Kia and 0. 3 per cent at Volkswagen. Smaller, more fuel-efficient models continued to gain popularity even among automakers with overall declines.

View blog reactions

If you liked this story please support M&C and Buzz the site on Yahoo.

Latest Headlines in Business

Talkback

Add your comment (no registration required)

page: 1

patriotJul 1st, 2008 - 23:34:10

March to Nationanlize US Oil Industry held on 9/11/08 in Los Angeles, CA

The march is scheduled for September 11, 2008 at the Federal Building 11000 Wilshire Blvd., Los Angeles, CA, Usa.
Congress WILL nationalize the oil industry!
CHANGE for America, for Americans.

THE AMERICAN REPUBLIC
A Sovereign Republic

Report this comment

page: 1

Add your comment (no registration required)

Latest from M&C Blogs

Second presidential debate; no 'gamechanger' ? - Global Eye on October 8, 2008 5:01 AM | Permalink | Comments (2) | TrackBacks (0)

Debate: did McCain do enough? - Global Eye on September 29, 2008 6:46 AM | Permalink | Comments (22) | TrackBacks (1)

Should Sen. John McCain's health records be made public? - Global Eye on September 15, 2008 8:39 AM | Permalink | Comments (50) | TrackBacks (0)

Raindance Film Festival - Estomago - London Calling on October 8, 2008 9:48 AM | Permalink | Comments (0) | TrackBacks (0)

Raindance Film Festival : It's Hard To Be Nice - London Calling on October 8, 2008 9:25 AM | Permalink | Comments (0) | TrackBacks (0)

London Film Festival - Dean Spanley - London Calling on October 6, 2008 9:38 AM | Permalink | Comments (0) | TrackBacks (0)

Bugatti Veyron 16.4 Grand Sport - The World in Pictures on October 2, 2008 4:15 PM | Permalink | Comments (1) | TrackBacks (0)

Devotee to Chinese Shrine of Sapam has face pierced - The World in Pictures on October 2, 2008 4:13 PM | Permalink | Comments (0) | TrackBacks (0)

Indian Muslims offer prayers on the occasion of Eid-al-Fitr - The World in Pictures on October 2, 2008 4:11 PM | Permalink | Comments (1) | TrackBacks (0)

Business

US auto sales tank on higher petrol costs

Business News

Latest Headlines in Business

Talkback

Latest from M&C Blogs

Similar articles

In Monsters and Critics

Corporate

The Fine Print