Word: toyotas
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...June below the 10 million-unit annual sales pace, which puts new vehicle sales at the slowest pace since the recession in 1958 - a downturn that forced some carmakers, notably Packard, to shut their doors for good. Meanwhile, each of the Big Six (the three domestic carmakers plus Toyota, Honda and Nissan, which together account for 75% of all vehicle sales in the U.S.) reported double-digit declines in sales. The declines ranged from 11% at Ford to nearly 42% at Chrysler. German automakers such as Volkswagen, BMW, Porsche and Mercedes-Benz also reported double-digit declines...
...months are perilous for both companies - and they'll need a modest improvement in sales just to survive. Ford, meanwhile, has played a difficult hand quite deftly. Despite a drop in sales volume, it has outperformed the market during the second quarter, reclaiming second place in total sales from Toyota and closing in on GM. (See 10 ways your job will change...
...Toyota is taking it on the chin along with everyone else. What does this mean for the oh-so-hip maker of the Prius? Sales of the new 2010 Prius got off to a strong start in June, according to Toyota, as consumers bought more than 13,000 units. But it's the sales of Toyota's other vehicles, such as its full-size pickup truck, the Tundra, and its hip little Scion that have borne the brunt of Toyota's sales slump. The company hopes to stem the decline by beefing up sales of its small utility vehicle...
...these awful sales numbers jeopardize any aspect of the Obama rescue plan? Manufacturers insist that the latest car sales are a reflection of the underlying weakness of the U.S. economy. Bob Carter, head of the Toyota sales apparatus, notes that the Japanese automaker's sales totals continue to suffer from California's economic crisis as well as its real estate downturn. "It's not one thing: it's real estate, it's availability of credit, it's unemployment" that's hurting California sales, he says. Mike DiGiovanni, GM's general director of market analysis, says the present economic numbers suggest...
...promised to keep 16% of combined U.S.-Canada output north of Detroit, but unless its new models can win market share from Ford and Toyota, it will continue its painful slide into oblivion. Also, as GM continues to shrink at home, it can trim a proportionate amount of production in Oshawa without breaking its promise to the Canadian government. Early on July 8, GM reported a 34% decline in June sales, to 176,571 cars and light trucks, in its domestic market. Year-to-date sales have collapsed 41%, to 954,356 vehicles...