June car sales plummet; more declines expected

George Pipas, Ford's top sales analyst, said SUV sales are probably down for good.

"Our view is that gas prices aren't likely to go down, and more importantly, many consumers have moved on," he said. "We believe that the segment has merit for certain consumers but is not likely to rebound at any point."

Toyota overtook General Motors Corp. in global sales earlier this year. It passed GM for global vehicle production last year.

Ford stock sank to a 52-week low of $4.41 early Tuesday but recovered to finish at $4.71, down 10 cents. They have traded as high as $9.64 over the past year.

GM managed to beat analyst estimates. Mark LaNeve, GM's vice president of North American sales, said it was not possible to figure out how much GM's month-ending three-day sale boosted June sales.

Shares of GM--which on Monday traded at their lowest point in more than half a century, according to the Center for Research in Security Prices at the University of Chicago--rose 25 cents Tuesday to close at $11.75.

The Associated Press reports unadjusted auto sales figures, calculating the percentage change in the total number of vehicles sold in one month compared with the same month a year earlier. Some automakers report percentages adjusted for sales days. There were 24 sales days last month, three fewer than in June 2007.

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AP Business Writer Bree Fowler in New York contributed to this report.

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