Auto Sales Weaken: Sales of North American-made...

Auto Sales Weaken: Sales of North American-made cars and trucks slipped 13.1% in early June, mainly because there were fewer incentive packages in the period than in the same period last year, auto makers reported. The weaker sales were off from a rate that wasn’t particularly strong during June 1-10 last year, even though generous incentive packages initiated two months previously had been extended. This year, incentives covered fewer cars and trucks, and rebates were lower. The auto makers reported that they sold vehicles at an average daily rate of 30,412 units during the early-June period this year, compared to a rate of 34,994 during the same period last year. Car sales fell 15.5%, and truck sales were off 8.8%.

VEHICLE SALES

June 1-10 % change 1990 year to year GM* 108,716 -16.7 Ford* 76,812 -12.4 Chrysler* 39,052 -18.0 Honda U.S. 9,054 +30.8 Mitsubishi U.S. 1,180 +59.0 Nissan U.S.* 3,439 +12.2 Toyota U.S. 3,842 +35.0 Subaru U.S. 212 ** Mazda U.S. 728 +22.8 TOTAL 243,297 -13.1

**No comparison possible.

There were 8 selling days in the selling period this year and 9 last year.