June car sales plummet for nearly all automakers

• IBTimes RSS
• Print
• E-Mail
• digg
• Del.icio.us

GM reported selling about 262,000 vehicles in June, about 69,000 more than Toyota. Car sales were down 21 percent at GM and 9 percent at Toyota. Truck sales were down 16 percent at GM and nearly 39 percent at Toyota.

Ford stock sank to a 52-week low of $4.41 early Tuesday but recovered to finish at $4.71, down 10 cents. The shares have traded as high as $9.64 over the past year.

GM managed to beat analyst estimates. Mark LaNeve, GM's vice president of North American sales, said it was not possible to figure out how much GM's month-ending three-day sale boosted June sales.

Shares of GM which on Monday traded at their lowest point in more than half a century, according to the Center for Research in Security Prices at the University of Chicago rose 25 cents Tuesday to close at $11.75.

The Associated Press reports unadjusted auto sales figures, calculating the percentage change in the total number of vehicles sold in one month compared with the same month a year earlier. Some automakers report percentages adjusted for sales days. There were 24 sales days last month, three fewer than in June 2007.

• 1
• 2
• 3