US June car sales slide again but slump starts to stabilise

City A.M. Reporter
US car sales tumbled in June as the economy remained a deep concern for consumers, but Ford posted far better results than other large carmakers and shot ahead of Detroit rivals passing through federally sponsored bankruptcies.<br /><br />Carmakers said the results pointed to more stability for the economy, but fell short of marking a turnaround for the battered US auto market after a punishing four-year decline.<br /><br />Ford, the only US automaker not supported by emergency US government funding, reported a 10.9 per cent drop in US sales in June that was better than some analysts forecast.<br /><br />GM posted a 33.6 per cent decline in US sales in June and sounded a more cautious tone about the economy than rivals in a conference call with analysts and reporters.<br /><br />&ldquo;Our results are tenuous,&rdquo; said GM sales chief Mark LaNeve. <br /><br />He added: &ldquo;Our customers are expecting a very quick exit from bankruptcy similar to what they saw for Chrysler.&rdquo;<br /><br />Toyota posted a 31.9 per cent sales decline in June. <br /><br />The carmaker trailed Ford for second place in the US market through the first half of 2009.