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Automakers See Weaker June Sales
Wednesday, 01-Jul-2009 6:14PM United Press International
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NEW YORK, July 1 (UPI) -- Analysts say most major automakers reported weaker U.S. sales in June, but there are some signs of hope.

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CNNMoney.com reported the No. 1 automaker, bankrupt General Motors Corp., reported sales fell 33 percent from a year ago -- worse than the 29 percent drop forecast from sales tracker Edmunds.com.

No. 2 automaker Toyota and Chrysler Group also reported worse than expected large sales declines, the Web site said. Ford was the only major automaker to do better than analysts predicted, though it, too, saw a sales drop, the site said.

The signs of hope included the seasonally adjusted annual sales rate in June that slipped to 9.7 million from 9.9 million in May -- still the second best month of the year.

GM reported that sales to U.S. consumers actually rose 10 percent from last year, but saw an overall sales decline because of a 49 percent decline in fleet sales, such as sales to rental car companies.

Chrysler, which has emerged from bankruptcy and formed an alliance with Italian automaker Fiat, saw overall sales fall 42 percent in June from a year ago, CNNMoney said, but much of that reflected a 95 percent drop in fleet sales while plants were shut down.

Ford also saw an 11 percent decline in sales, but reported a market share increase from a year ago, despite a prediction of a 16 percent decline from Edmunds.com.

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