U.S. auto sales fall again

  • 01/10/2008

  • Asian Wall Street Journal (Hong Kong)

U.S. AUTO SALES continued to slump in September despite customer incentives and falling gas prices, with Ford Motor Co. posting a 35% drop. Hyundai Motor Co. and Volkswagen AG also reported sharp declines in the U.S. "Consumers and businesses are in a very fragile place," Ford marketing executive Jim Farley said in a company press release. "An already weak economy compounded by very tight credit conditions has created an atmosphere of caution." Though oil prices have fallen recently, buyers continue to favor more fuel-efficient cars instead of trucks and SUVs that have traditionally driven Detroit's profits. Car-shopping Web site Edmunds.com projected the three top-selling auto markers