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Detroit's Big Three losing ground to Asian rivals

Asia's top automakers reported double-digit US sales gains last month, further chipping away at the share of leaders General Motors Corp and Ford Motor Co.

GM and Ford both reported lower sales last month as demand for SUVs and other light trucks, which generate some of the highest profit margins, slipped against a backdrop of higher gas prices.

DaimlerChrysler AG's Chrysler Group, the smallest of Detroit's Big Three, stood its ground, however, thanks to brisk sales of minivans and pickups.

Overall, US vehicle sales rose 1.8 percent. The seasonally adjusted annual sales rate for last month was 17.46 million units, up from 16.62 million units the year before, according to research firm Autodata Corp. The rate indicates what sales would be for the full year if they remained at the same pace for all 12 months. Full-year sales for last year were about 17 million.

GM said its total vehicle sales fell 7.7 percent.

No. 2 Ford said its sales fell 5.1 percent in last month, its 11th consecutive month of year-over-year sales decreases.
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