Japanese Foes Thump Big 3 in June Sales

GM's sales in June were down 24% from a year earlier, leading an all-American slump that saw Ford and Chrysler report downturns as Toyota, Honda, and Nissan rang up increases in figures released today. Discounts on the Tundra pickup helped Toyota jump into second place in the American market in the first half of the year, Reuters reports.

Gas prices drove increased demand for passenger cars and crossovers, helping the Japanese manufacturers. Nissan rode a 76% increase in Altima sales and the effects of increased discounts to an 18% leap for the month, tops in the industry. Cuts in rental-car fleet purchases accounted for part of GM's dip and all of Ford's.