Sales Plummet in June as Automakers Struggle to Adapt to Rapid Market Changes, an Industrial Info News Alert
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SUGAR LAND, TX -- (MARKET WIRE) -- 07/03/08 -- Researched by Industrial Info Resources (Sugar Land, Texas) -- Major automakers -- foreign and domestic alike -- experienced major sales declines in June after struggling to keep up with consumers' rapidly changing purchasing habits from SUVs and pickups to more fuel-efficient vehicles. Chrysler posted the biggest loss, followed by Ford (NYSE: F) (Dearborn, Michigan), Toyota (NYSE: TM) (Torrance, California) and General Motors (NYSE: GM) (Detroit, Michigan). However, Honda (NYSE: HMC) (Torrance) posted a modest 1.1% rise in sales primarily because of the fact that its North American production is based on cars rather than trucks and SUVs.
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