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GM Says Its June U.S. Sales Lag Its Expectations (Update1)

June 28 (Bloomberg) -- General Motors Corp.'s U.S. sales this month are falling short of its expectations and probably will decline from the year-earlier month, Paul Ballew, the company's chief sales analyst, said.

The industrywide annual sales rate for June also will probably drop to 16.3 million from June 2003's 16.5 million pace, Ballew said in an interview.

The company's sales ``are a little softer than we expected,'' he said. The Detroit-based automaker sold 425,975 cars and light trucks in the year-earlier month.

General Motors, the world's largest automaker, is introducing twice as many new models as in past years and spending the most of any car company on incentives to try to regain market share this year from Asian rivals such as Toyota Motor Corp. General Motors' U.S. market share through May was unchanged from the year-earlier period at 27.2 percent as its sales rose 3.2 percent, according to Autodata Corp.

The company's shares fell $1.19 to $46.46 at 3 p.m. in New York Stock Exchange composite trading.

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