QUOTE
April 1, 2008
The U.S. auto market continued to slump in March, with light-vehicle sales falling 19% at General Motors, 10% at Toyota and 14% at Ford. The month had two fewer selling days than in March 2007, which magnified the declines. But analysts were expecting weak monthly results in what is shaping up to be one of the toughest years for U.S. auto sellers in at least a decade.
The downturn in the economy is damping demand in general, while high gasoline prices continue to cut deeply into sales of traditional SUVs and pickups. "This is a very challenging external environment, reflecting a seismic shift in consumer preferences," said Ford marketing executive Jim Farley. "These conditions will likely persist in the near future."
The U.S. auto market continued to slump in March, with light-vehicle sales falling 19% at General Motors, 10% at Toyota and 14% at Ford. The month had two fewer selling days than in March 2007, which magnified the declines. But analysts were expecting weak monthly results in what is shaping up to be one of the toughest years for U.S. auto sellers in at least a decade.
The downturn in the economy is damping demand in general, while high gasoline prices continue to cut deeply into sales of traditional SUVs and pickups. "This is a very challenging external environment, reflecting a seismic shift in consumer preferences," said Ford marketing executive Jim Farley. "These conditions will likely persist in the near future."
