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Wednesday July 2, 2008
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This news isn't strictly tech-related. But it's worth nothing that June auto sales have plunged, according to a new CNNMoney.com report, as "Americans shunned pickups and SUVs in the face of record gas prices and growing concerns about the weak economy." What's interesting is that sales of fuel-efficient small cars have also decreased—including, most notably, the Prius.
Overall sales tumbled in June from 15.6 million vehicles last year to just 13.6 million this year, making it the weakest pace in 15 years. In addition, May and June together mark the only two months on record that Asian vehicles sold more than U.S. vehicles in the country (46.2% to 45.8%).
It's not all because of pickups and SUVs either. Sales of the Toyota Corolla jumped 15%, but sales of the Yaris and Camry both declined slightly. Meanwhile, the Prius saw sales plummet by a third due to tight supplies, the report said—a virtual duplicate of the car's poor sales performance in May.
"This was a missed opportunity for Toyota this month," said Jesse Toprak, chief industry analyst for Edmunds, in the article. "We've heard a lot of reports from dealers they could have sold twice as many Priuses, if not more, if they had them in inventory."
Posted By:
Jamie Lendino
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