Think June Sales Were Bad? Both GM and Toyota Say Their Sales Will Fall Even Further

General Motors Corp and Toyota Motor Corp the biggest players in the US auto market, predicted Tuesday that sales would fall this year to their lowest levels in more than a decade after already-weak demand tumbled further in June.

Sales of cars and light trucks slid 18.3 percent last month because of record-high gas prices, sinking consumer confidence and insufficient supplies of the most popular small and fuel-efficient models.

The selling pace in June translated to 13.6 million cars and trucks on an annual basis, the weakest level in 15 years.

"This past month's auto sales clearly reflect a very difficult situation for our customers, and we think it's going to persist for many, many months to come, possibly longer," said Jim Farley, group vice president of sales at Ford Motor Co.

Agent009 - 7/3/2008 10:15:21 AM

+1 Boost

I would like to say yes, but then we hear the old "we have increased heating oil demands in the North" to keep the prices up.

toolatetorace - 7/3/2008 6:18:00 PM

+1 Boost

we always have increased demand in the north . Just like the alleged experts have been saying for the last six years , supplies of crue are tight and unrest in the middle east. (Is our excuse to keep raising prices)

Maverick2020 - 7/3/2008 11:29:26 AM

0 Boost

It's an expectations game now. With GM's share trading at a 54-year low, they have to keep the goal posts low. Any "win" is considered a victory.

The Dow actually went up 30 points Tuesday after GM report less than worse results.

silver1 - 7/3/2008 12:46:14 PM

0 Boost

I'm kinda of happy in a way.... This will make the auto industry come out with better mpg. They could've been did it but choose not to and didn't wanna invest the money into it because they were stingy, now they are making up for it......Ford, GM, Chrysler all complain about the new mpg that suppose to go into affect in 2020 because they don't wanna invest the money into it. the US Department of Transportation had to mandate them to put seat belts in cars, because they didn't want to invest in that either.

DW1968 - 7/6/2008 11:04:57 AM

+1 Boost

This is true. And, hopefully, not too late.

Godgore - 7/3/2008 3:32:08 PM

-1 Boost

2009 & 2010 will be even more brutal.