GM and Ford extend sales losses

General Motors Corp. and Ford Motor Co. reported another month of lower U.S. vehicle sales on Wednesday, and both lost more market share to foreign rivals due to slowing demand for fuel-thirsty SUVs.

The sales slump at GM and Ford, which prompted further production cuts, cast another shadow over Detroit’s struggling automakers as they grapple with brutal competition and the effect of last month’s credit rating downgrades to “junk” status.





Reuters