Thursday, August 27, 2009

Big 3 sales fade as 'clunkers' wraps up

Low inventories cited in sinking U.S. share of incentive program

David Shepardson / Detroit News Washington Bureau

Washington -- The Detroit Three automakers' share of "cash for clunkers" sales fell sharply, compared to foreign nameplates, in the final week of the $3 billion incentive program.

General Motors Co., Ford Motor Co. and Chrysler Group LLC sold 38.6 percent, or about 266,000 of the nearly 700,000 clunker replacements. That's far below their combined 45.3 percent share of 2009 auto sales.

The U.S.-based companies said they were hampered by a comparative shortage of small, fuel-efficient vehicles that buyers were seeking and that the Asian automakers provided....Freep--More

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