Consumers Turn to Honda in June
GM’s Hummer leads the sales nose-dive
By Joe Benton ConsumerAffairs.com
Consumers are snapping up Hondas as gasoline prices head higher. The Japanese automaker reported a 13.8 percent gain over June 2007 and a new monthly sales record. But for almost every other automaker, June sales were the worst in recent memory.
Toyota sales dropped 11.5 percent with truck sales off 31.1 percent. The Japanese automaker reported a 15.6 percent jump in sales of its compact Corolla.
Sales of the Prius, the best-selling hybrid on the market, fell by a third because of tight supplies. Toyota sold 11,765 Prius hybrids in June as some dealers reported consumers are signing on to waiting lists that are 2 to 3 months long.
Ford reported a huge decline with sales tumbling 28 percent in June from a year ago. Ford reported demand for its SUVs plunged by more than half. Sales of pickups and other trucks fell more than a third.
“Clearly, the rapid rise in gasoline prices and the resulting shift toward fuel efficient vehicles has been challenging,” said Jim Farley, Ford group vice president, in a statement.
“Consumer fundamentals and consumer confidence deteriorated as the first half unfolded. The economy enters the second half of the year with a notable absence of momentum and a high degree of uncertainty,” Farley said.
General Motors sales dropped 18.5 percent in June from a year ago. GM sold 265,937 vehicles in June, down from 326,300 last year.
Hummer took the biggest hit, with sales down 59.3 percent.
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