Major global automakers Ford, General Motors and Toyota have all reported sharp declines in year-on-year sales volumes in the US during August, despite cooling gasoline prices.

General Motors, the nation's largest automaker, posted a 20 per cent fall, while number three producer Ford recorded a 27 per cent drop and Toyota's sales decreased by a more modest nine per cent.

The figures represent the tenth straight month of declining sales in the US - the longest stretch since 2001 - but some officials are confident that the tide will soon turn as fuel prices continue to drop and aggressive discounts bring buyers back to the market.

Meanwhile, rising gasoline prices in Japan led to sales of new cars, trucks and buses in the country falling by 14.9 per cent during August - the first decrease recorded in two months.

The Japanese Automobile Dealers' Association also confirmed that the country's second largest automaker, Honda, topped the passenger car sales for the tenth straight month with its Fit compact after sales of the vehicle increased by 84 per cent.



Source:

Honda's Fit Compact Tops Japan Sales for Tenth Month (Update1) (04/09/08)
http://www.bloomberg.com/apps/news?pid=20601101&sid=aFhDo.4rwmRQ&refer=japan

Carmakers' August sales drop, but some hope seen (03/09/08)
http://www.reuters.com/article/newsOne/idUSN0347396720080903?sp=true

GM, Ford Drag U.S. Car Sales to 10th Straight Decline (Update2) (03/09/08)
http://www.bloomberg.com/apps/news?pid=20601087&sid=aTGVs73419wA&refer=home

Japan's new vehicle sales fall for first time in two months in August - UPDATE (01/09/08)
http://www.forbes.com/afxnewslimited/feeds/afx/2008/09/01/afx5375214.html

Auto sales plunge (03/09/08)
http://money.cnn.com/2008/09/03/news/companies/autosales/index.htm?postversion=2008090318