U.S. Sales: SUVs and trucks drag down GM, Ford, Chrysler

Crumbling consumer confidence, higher interest rates and high gas prices (natch) depressed U.S. car and light truck sales in May by 0.7 percent year-over-year. But the pain isn't equally distributed - Toyota and Honda both scored record sales. Big gains were also seen by Volkswagen of America (which includes Audi and Bentley), up 28.5 percent, and American Suzuki Motor, up 35.9 percent.
Strong sales of new car models softened the blow for Ford, General Motors and Chrysler group, but all three posted sales declines nonetheless, with GM taking the biggest hit, down 12.5 percent. Based on May's results, both GM and Ford lowered production targets for the the third quarter.

Among other imports, BMW, Mazda, Subaru and Mitsubishi posted gains, while Porsche sales were flat. Nissan sales were down sharply.

[Source: Automotive News]

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