Ford sales plunge

[Yeo]

Ford Motor reported that its U.S. sales tumbled 28% in June, kicking off what could turn out to be the weakest month for auto sales in 16 years.

Ford, the No. 3 automaker in terms of U.S. sales, saw sales of its SUVs plunge by more than half and pickups and other trucks fell more than a third.

Even the so-called crossovers, a sign of strength in the light truck segment until recently, saw sales off 18% from a year earlier, as buyers went searching for more fuel efficient vehicles in the face of record $4 gas prices. But Ford apparently didn't have the car models buyers were looking for, as its car sales fell 12%.

The overall sales slide was worse than the forecast of a 25% drop from auto sales tracker Edmunds.com.

Edmunds is also predicting a 25% drop in sales at General Motors (GM, Fortune 500), a 12% decrease in sales at Toyota Motor (TM) and 31% plummet in sales at Chrysler LLC.

Those automakers are due to report their June sales later Wednesday. Honda Motor (HMC) is the only major automaker expected to show even a modest gain from a year ago.

Overall U.S. sales are expected to fall 12%, according to Edmunds.

http://money.cnn.com/2008/07/01/news/companies/auto_sales/index.htm?cnn=yes
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