The rising gas prices and also the increasing unemployment continues to badly affect the US automobile Industry. The automobile sales in the month of June 2009 has crashed by 27.7%, over a year ago sales, and the sales went below the 10 million mark again.
Ford Motor which is a step away from bankruptcy filing has seen its sales decline by a marginal 11%, while Chrysler took the steepest 48% sales drop. Chrysler sales declined more due to the bankruptcy related uncertainties.
General Motors also suffered a hit of 33% in sales due to the uncertainty hanging over its head. The fate of GM will be decided in the next two weeks.
Also all the high end cars saw a steeper decline due to the shifting of demand to lower end cars which are fuel efficient.