U.S. auto sales dropped to a 15-year low in June, as consumers shunned trucks and SUVs and automakers were unable to meet demand for smaller cars and hybrids. GM posted an 8 percent drop in sales, avoiding losing its no. 1 seller ranking to Toyota, which saw a 21 percent drop in June sales. Ford sales dropped 28 percent and Chrysler sales, 36 percent. Honda reported a 1 percent gain. (Reuters)
The Bottom Line
July 2, 2008
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