US carmakers suffer drop in sales
US carmakers have been hit by further falls in sales, with the big names racking up double-digit declines.
Ford said sales sank 35.2% in July compared with last year, Chrysler sales fell 37% and General Motors 19.5%. Part of the fall was blamed on the fact that heavy discounts seen last year were no longer on offer.
But rising fuel costs and interest rates have led consumers to opt for smaller, more fuel efficient vehicles - delivering a boost to Asian carmakers. A 16% rise in sales at Japanese group Toyota pushed the automotive firm to the number two carmaker slot in the US - ahead of both Ford and DaimlerChrysler.
Meanwhile, BMW has reported record quarterly sales and revenue figures, as its range of cars continues to enjoy a surge in popularity.
Reporting its results for the second quarter of 2006, sales of its BMW, Mini and Rolls-Royce vehicles rose 3.2% from a year earlier to 365,547 units.
Ford said sales sank 35.2% in July compared with last year, Chrysler sales fell 37% and General Motors 19.5%. Part of the fall was blamed on the fact that heavy discounts seen last year were no longer on offer.
But rising fuel costs and interest rates have led consumers to opt for smaller, more fuel efficient vehicles - delivering a boost to Asian carmakers. A 16% rise in sales at Japanese group Toyota pushed the automotive firm to the number two carmaker slot in the US - ahead of both Ford and DaimlerChrysler.
Meanwhile, BMW has reported record quarterly sales and revenue figures, as its range of cars continues to enjoy a surge in popularity.
Reporting its results for the second quarter of 2006, sales of its BMW, Mini and Rolls-Royce vehicles rose 3.2% from a year earlier to 365,547 units.
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