General Motors Hangs on

July 1, 2008 1:12:41 PM PDT
General Motors is still at the top of the heap. The nation's largest automaker was able to retain its traditional U.S. sales lead even though its sales still dropped 18 percent in June.

Toyota, which many analysts expected would scoot by GM in June to take the title, posted a sales decline of 21.4 percent.

In terms of vehicles sold, it was GM 265,937 to 193,234 for Toyota.

Both companies were hurt by a sluggish economy and poor sales of trucks and sport utility vehicles.

Earlier today, Ford reported a slide of almost 28 percent. Chrysler has yet to post its June results.