Rebates, Zero Percent Deals Increase Auto Sales
U.S. car and truck sales fell 1.7 percent last month, an improvement over declines in May, as increased cash rebates and lease offers brought shoppers into showrooms. General Motors Corp., reported improved car and truck sales in June while Ford Motor Co. and DaimlerChrysler AG's Chrysler unit saw decreasing demand. GM's latest monthly sales rose 4.3 percent over last June. Ford posted an 11.3 percent decline, and Chrysler said sales fell 3.7 percent. With the small recovery in June sales following May's 6 percent drop, overall industry demand is off 2.6 percent for the year. Despite falling stock prices and wavering consumer confidence, major automakers remain optimistic industry sales will reach 16.5 million units in 2002.
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