The Bush administration’s economic stimulus package is far from enough to drive Americans into their local car and truck dealer.
June’s sales numbers, compared to June 2007 are horrible and a sign of a seriously weakened economy.
According to The Wall Street Journal, American consumers long enamored with trucks and SUVs are now looking for fuel-efficient cars. Sales of Ford’s SUVs fell 55%, and its formerly top-selling truck line dropped 38%. Toyota sold about two-thirds fewer light trucks than it did a year earlier.
To help offset these declines, GM introduced zero-percent financing for 72 months on many 2008 models. Without this incentive, Toyota would have likely overcome GM in the market share department.
