01 July 2008

People shunning Cars

GM sales for the month of June were down 18.5%. But that still beat Toyota, which slipped by 21.4%. - Ford sales fell by a whopping 27.9%.

Toyota sales have beaten the Big 3 consistently over the past while, largely due to Toyota's forecasting consumer demand for greener alternatives.

This drop in even Toyota's sales suggests that consumers may be starting to turn away from cars altogether. And what a great boost for the environment that would be!
General Motors shares, which had fallen to a 54-year low on Monday, recovered from early falls to close up 2.2% in New York.

Toyota had been expected to fare better during the month because its smaller, more fuel-efficient cars were better-suited to high fuel prices.

But in the event, Toyota suffered even worse than its US rivals, with its truck sales in particular falling by 38.9%.

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