Ford sees market share jump
Ford Motor gained significant market share in the US in June, benefiting from new models and the financial woes of its two Detroit-based rivals, General Motors and Chrysler.
Ford’s sales fell by 11 per cent from a year earlier, the smallest drop in 16 months. By contrast, GM was down by 34 per cent, Chrysler by 42 per cent and Toyota by 32 per cent.
According to preliminary estimates, total industry sales of cars and light trucks weakened to an annualised 9.7m last month, from 13.6m in June 2008 and 9.9m in May.
Mike DiGiovanni, GM’s sales analyst, said that demand softened towards the end of the month in anticipation of the implementation of car scrappage incentives, approved by Congress two weeks ago.
Source: Financial Times
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