Ford, GM August sales drop

From the AP

DETROIT – Ford Motor Co. said Wednesday its U.S. sales fell 26.5 percent in August, as the struggling automaker’s results — even worse than July’s dismal figures — showed that the U.S. auto sales slump may not have bottomed out.

Toyota’s sales dropped 9.4 percent from August of last year, a further indication that the woes in the U.S. auto market are continuing, but Nissan — the only major automaker to show a sales gain in July — reported another improvement, with a 13.6 percent increase in August sales.

Meanwhile, General Motors Corp. reported a 20.3 percent drop in sales from a year ago but a 31 percent improvement over its July totals, mainly thanks to offering all buyers employee pricing on many models.

Ford sold 155,172 light vehicles last month, down 3.6 percent from 160,990 in July, which was the industry’s worst month for U.S. sales in 16 years.

The Dearborn-based automaker said its Ford, Lincoln and Mercury car sales dropped nearly 9 percent, while truck sales were off more than 32 percent last month.

The company also doesn’t expect a sales rebound in the second half of the year. It said Wednesday that it plans to cut 50,000 more vehicles from its production plan in the second half of the year, reducing its output to 890,000 in the last six months of 2008.


Funny how Nissan is the only automaker to post a rise in sales. I must be because of the attractive leases and low APR financing (Like the  EX). Overall, this article clearly shows that most americans are shifting over to more fuel efficient cars than ever before. I just hope most people doing so aren’t panicking and taking a major loss on their SUVs.

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