GM dealers hold off on new vehicle orders as sales cool
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DETROIT, Michigan : General Motors Corp. dealers are scaling back their orders for new 2005 model year cars and trucks amid slow sales of older models, the Wall Street Journal revealed.
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General Motors Corp.  on Tuesday  said that overall 2006 U.S. auto sales were likely to come in  below the 2005 total because of higher interest rates and  gasoline prices.
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General Motors Corp. GM.N and Ford  Motor Co. F.N on Tuesday capped 2004 with another month of  weaker sales, despite a crop of new vehicles and hefty  incentives, while Chrysler and Japan's Toyota and Nissan again  posted gains.
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General Motors Corp. GM.N on Tuesday  posted a marginal gain in January U.S. vehicle sales, while  Ford Motor Co. F.N reported a moderate drop, and both U.S.  automakers said they would trim production further.
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General Motors Corp  said on Thursday its global sales rose 4 percent in the third quarter, but said U.S. sales would be subdued in the fourth quarter and would be flat next year.
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A month-end sales blitz of incentives  by General Motors Corp. GM.N and Ford Motor Co. F.N to  clear out older vehicles will spur a slight rise in U.S. car  and truck sales for September, analysts said.
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General Motors Corp GM.N on Friday  denied that dealerships were cutting back on orders of the  company's 2005 models due to swollen inventories of unsold cars  and trucks from the 2004 model year.
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An option allowing Fiat to sell its car  unit to General Motors came due on Monday but Fiat said it  would hold off exercising the put until the groups wrap up  talks to settle a dispute over its validity.
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DETROIT -- Ford Motor Co. has received several bids for its Jaguar and Land Rover units, but a spokesman said they were preliminary and no sale of either British automaking business was imminent.
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General Motors Corp. GM.N, coming off  two straight months of disappointing sales, told dealers on  Tuesday it will launch new U.S. sales incentives later this  week.
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General Motors Corp.  on Friday cut its outlook for industry-wide U.S. auto sales in 2007, estimating annual sales of about 16.8 million vehicles, down from an earlier forecast of 17 million units.
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U.S. auto sales have been slipping as   domestic automakers have struggled to boost sales amid high gas   prices this year -- a trend that will continue into next year,   industry executives and analysts said.
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General Motors Corp  said on Thursday its U.S vehicle sales fell 5.2 percent in December as consumer demand softened amid a weak housing market and higher gas prices.
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GM on Tuesday posted a 24 percent decline in June sales, as U.S. automakers lost share and overall monthly sales sputtered in the face of high fuel prices and a weak housing market.
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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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General Motors Corp. GM.N Chief  Executive Rick Wagoner said on Friday the automaker's U.S.  sales would fail to match last December's strong levels.
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General Motors Corp. GM.N posted a 7  percent drop in U.S. vehicle sales for August, and set its  fourth-quarter North American car and truck production 6.8  percent lower, the automaker said on Wednesday.