(Reuters) - TOKYO/DETROIT, July 4 - General Motors Corp.
on Tuesday posted a steeper-than-expected 24 percent drop in June
sales, as U.S. automakers lost share to Japanese brands and
overall vehicle sales sputtered in the face of high gas prices
and a weak housing market.
Shares of GM dropped more than 4 percent after the
holiday-shortened close of trade on the New York Stock Exchange
in reaction to the sales shortfall and indications the largest
U.S. automaker would have to respond with bigger discounts.
Read more at Reuters.com Mergers News
on Tuesday posted a steeper-than-expected 24 percent drop in June
sales, as U.S. automakers lost share to Japanese brands and
overall vehicle sales sputtered in the face of high gas prices
and a weak housing market.
Shares of GM dropped more than 4 percent after the
holiday-shortened close of trade on the New York Stock Exchange
in reaction to the sales shortfall and indications the largest
U.S. automaker would have to respond with bigger discounts.
Read more at Reuters.com Mergers News
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