Auto Sales Skid: So What?
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Lower sales may aid GM and Ford's return to profitability.
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August was a dismal month for sales of new cars and trucks, with nearly every major automaker reporting a decline compared with a year ago.
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(Detroit-AP) Dec. 2, 2004 - The nation&#39;s two largest automakers are reporting weak November sales and announcing plans to reduce production.
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Ford Motor, Chrysler and the three largest Japanese automakers said yesterday that U.S. sales fell in January, but General Motors reported a surprise gain.
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Housing woes and high gas prices likely combined to send U.S. auto sales to a weak finish in December, capping the industry's worst sales year in a decade and increasing pressure on U.S. automakers to cut production further, analysts said on Wednesday.
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Retail sales, hurt by a big drop in auto purchases, slowed at the start of the year and business inventories turned in the poorest showing in 17 months.
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General Motors Corp.  said on  Thursday that U.S. sales fell in May, driven by a big slump in  car sales, which offset a slight increase in demand for its new  line of sport utility vehicles.
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Ford Motor Co. F.N on Friday said   U.S. vehicle sales fell 11.6 percent in August, hurt by a   decline in truck sales and stronger numbers last year, when   deep discounts lured buyers into showrooms.
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U.S. car and truck sales likely slowed  in October from incentive-driven, surprisingly strong levels in  September, and Detroit automakers look set to take most of the  fall.
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General Motors, Ford and Chrysler Group held just 50.6 percent of auto sales in the U.S. last month, their lowest ever.
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Here's how hard it is to navigate today's fickle auto industry: Last year, General Motors Corp. managed to preserve profit in North America, but its market share tumbled. At the same time, GM's share of the European market rose to a five-year high, but the company lost a huge amount of money there.
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A recovery in the economy later  this year will keep U.S. vehicle sales from plunging as deeply  as the most bearish forecasts suggest, according to an outlook  released on Sunday by the group representing U.S. auto dealers.
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Consumers put away their wallets in June, sending retail sales plunging by the sharpest amount in nearly two years. Sales of autos, furniture and building supplies all fell, highlighting the economy's weak spots.
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Ford Motor Co.  on Friday said U.S. November vehicle sales fell 10 percent from a year earlier, driven by a decline in truck sales as consumers moved to more fuel-efficient options.
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Sales by Detroitâs two largest automakers fell as they focused on more profitable transactions at dealerships.
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DETROIT -- Ford Motor Co. reported Friday that its U.S. auto sales dropped 9.7 percent compared with the same period a year ago as both truck and car sales lost ground. DaimlerChrysler AG said sales rose 4.7 percent.
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Hurricane Charley's damaging path through Florida and the growing ineffectiveness of sales incentives caused U.S. car and trucks sales to slip in August, raising the likelihood of costly cuts in vehicle production, analysts said.