BUSINESS
05/09/2008 05:12 am ET Updated May 25, 2011

US Auto Sales Fall To Lowest Annual Rate In More Than 15 Years

U.S. auto sales fell to their lowest annual rate in more than 15 years in April as weak consumer confidence and rising gas prices hit the industry's most profitable vehicles hardest.

Sales at Detroit's Big 3 of General Motors Corp (GM.N), Ford Motor Co (F.N) and Chrysler LLC (CBS.UL) -- with their truck-heavy lineups -- were worse than expected, according to data released on Thursday. GM sales fell 23 percent, Ford 19 percent, and Chrysler nearly 30 percent.

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