USA TODAY Reports June Auto Sales Approach Record, As if an economic slowdown never happened

USA Today reported that June auto sales are expected to show that new products and good deals attracted consumers in almost record numbers. Many automakers say sales are ahead of or equal to last year's blistering pace of 17.2 million.

But the news isn't all good, market share for Detroit's automakers -- General Motors, Ford and DaimlerChrysler's Chrysler Group -- is down, yielding to increases for European and Asian carmakers.

Merrill Lynch sees European and Asian companies taking an additional 2 percent of market share in June despite heavy incentives by GM, Ford and Chrysler to keep customers. Sales by South Korean automakers also continue to climb. Hyundai spokesman Chris Hosford says June sales are expected to be at or close to a record. Sales were up 35 percent last month.