- Jul 31, 2005
- Reaction score
- Political Leaning
GM sales fell 24 percent, and Ford dropped 19 percent, the companies said in statements today. Toyota Motor Corp., the largest Asian automaker, had a 10 percent increase, No. 2 Nissan Motor Co. gained 16 percent, and Honda Motor Co. advanced 12 percent. DaimlerChrysler AG said U.S. sales of Chrysler and Mercedes-Benz vehicles were up 3.7 percent.
Employee-price discounts at GM and Ford, which lifted sales when they were introduced in June and July, have lost their appeal, analysts said. Rising gasoline prices, boosted further after hurricanes Katrina and Rita, pinched demand of large sport- utility vehicles, analysts said. Sales of the Ford Explorer, the nation's best-selling SUV, dropped 58 percent in September.
``The hangover has already started'' from employee-pricing promotions, Argus Research analyst Kevin Tynan said in an interview. ``You have gasoline prices at $3'' a gallon. ``It's pushing the shift to smaller, more fuel-efficient'' vehicles.
http://quote.bloomberg.com/apps/news?pid=10000103&sid=a8w04OUwBcMM&refer=news_indexChevy SUVs Slip
GM sold 349,202 vehicles last month, down from 458,7999 a year earlier. GM's car sales fell 14 percent, while sales of light trucks slid 30 percent. Sales of the Chevrolet Silverado pickup truck, the company's top selling vehicle, declined 27 percent. Among GM SUVs, the Chevy TrailBlazer fell 24 percent and the Tahoe dropped 56 percent.
Ford sold 228,157 vehicles, off from 282,656 a year earlier. The Dearborn, Michigan, company's truck sales fell 27 percent while car sales increased 3.3 percent. Sales of F-Series pickup trucks, the top-selling line of vehicles in the U.S., dropped 30 percent. Sales of the Expedition large SUV fell 61 percent.