DETROIT, July 2 (UPI) -- Lackluster June sales are expected to spark a new round of buyer incentives by U.S. automakers to move millions of already-built vehicles.
The domestic market share of General Motors Corp., Ford Motor Co. and Chrysler slipped under 60 percent in the first half of 2004 while Japanese automakers increased U.S. market share to more than 25 percent.
"Quite simply, we're going to need to pick up the pace as move into the second half," GM sales analyst Paul Ballew told the Chicago Tribune in a conference call.
Ballew says this summer is a great time to buy as General Motors, the world's largest auto manufacturer, and Ford begin a summer inventory sell-down. GM sales fell 12 percent last month. Ford's sales were down 8 percent.
Japan's Toyota sold more than 170,300 vehicles, up 10 percent, for its best June ever.
GM ended June with an inventory of 1.35 million vehicles. Ford had 949,000 unsold cars and trucks. Both auto giants are expected to unveil new incentive deals next week.
