GM sales sank nearly 20 percent in January, Reuters reports
02-01-2007, 01:41 PM
#1
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GM sales sank nearly 20 percent in January, Reuters reports
Ford's decline was expected, but this comes as an unfortuate surprise to me at least.
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GM sales sank nearly 20 percent in January, Reuters reports. More soon
02-01-2007, 01:46 PM
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Nah, GM reduced its fleet sales a great deal. Ford claims to have done the same.
That just shows you how much the Big 2 and 1/2 relied on those fleet sales. I bet if Hyundai reports gains, it will be in large part to fleets.
That just shows you how much the Big 2 and 1/2 relied on those fleet sales. I bet if Hyundai reports gains, it will be in large part to fleets.
02-01-2007, 01:52 PM
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Here's the rest of the story that just went online:
Acura Division sales were down 10.6 percent on an adjusted basis.
Acura Division sales were down 10.6 percent on an adjusted basis.
U.S. automakers struggle; Japanese thrive
GM says car and light truck sales fall 20 percent in January from year-ago period; Ford also shows big declines.
February 1 2007: 2:40 PM EST
DETROIT (Reuters) -- GM said its January sales were off around 20 percent from the year-ago period, while Ford said Thursday that vehicle sales in the United States fell 19 percent from a year earlier.
Toyota said it saw gains of 5.1 percent and Honda reported that sales eased 1.7 percent.
GM sales tumble
GM's sales of cars and light trucks, such as pickups and SUV's, fell 16.6 percent in January, although when adjusted for a greater number of selling days compared to a year earlier, sales were down 19.9 percent. The numbers reflected lower sales to fleet operators and rental companies.
The world's largest automaker sold 247,464 vehicles in the United States last month, down on an adjusted basis from 296,003 vehicles a year earlier.
GM, which has been reducing low-margin rental fleet sales, cut its first-quarter North American production forecast to 1.08 million vehicles, down 40,000 from its prediction last month.
The automaker produced 1.25 million vehicles in the first quarter of 2006.
Shares of GM (down $0.05 to $32.80, Charts) were down slightly in Thursday trade.
Ford's woes
Ford said its decline was because of reduced sales to daily rental companies.
The second-largest U.S. automaker said it sold 166,835 vehicles in the United States last month, compared with 205,671 vehicles a year earlier.
Sales to daily-rental companies were down 65 percent, while sales to retail customers were down 5 percent, the company said.
Results for Ford include its import brands and some medium- and heavy-duty trucks and are not adjusted for the extra selling day in January 2007.
Ford (up $0.06 to $8.19, Charts) shares edged higher in midday trade on the New York Stock Exchange.
Toyota gains
Toyota said on Thursday its U.S. sales rose 5.1 percent on an adjusted basis in January to 175,850 vehicles.
The results were adjusted for an extra selling day in January this year. Without the adjustment, Toyota sales were up 9.5 percent.
The Japanese automaker said its Toyota division posted a 4.7 percent increase in January U.S. sales, while its Lexus division sales rose 8 percent on an adjusted basis.
Shares of Toyota (up $1.25 to $133.03, Charts) rose 0.9 percent in midday Thursday trade.
Honda sales ease
Honda said Thursday its U.S. January sales fell 1.7 percent to 100,790 vehicles, adjusted for an extra selling day in January 2007.
Total adjusted car sales fell 10.7 percent while truck sales rose 11 percent.
Honda Division U.S. January sales fell 0.2 percent, while Acura Division sales were down 10.6 percent on an adjusted basis.
GM says car and light truck sales fall 20 percent in January from year-ago period; Ford also shows big declines.
February 1 2007: 2:40 PM EST
DETROIT (Reuters) -- GM said its January sales were off around 20 percent from the year-ago period, while Ford said Thursday that vehicle sales in the United States fell 19 percent from a year earlier.
Toyota said it saw gains of 5.1 percent and Honda reported that sales eased 1.7 percent.
GM sales tumble
GM's sales of cars and light trucks, such as pickups and SUV's, fell 16.6 percent in January, although when adjusted for a greater number of selling days compared to a year earlier, sales were down 19.9 percent. The numbers reflected lower sales to fleet operators and rental companies.
The world's largest automaker sold 247,464 vehicles in the United States last month, down on an adjusted basis from 296,003 vehicles a year earlier.
GM, which has been reducing low-margin rental fleet sales, cut its first-quarter North American production forecast to 1.08 million vehicles, down 40,000 from its prediction last month.
The automaker produced 1.25 million vehicles in the first quarter of 2006.
Shares of GM (down $0.05 to $32.80, Charts) were down slightly in Thursday trade.
Ford's woes
Ford said its decline was because of reduced sales to daily rental companies.
The second-largest U.S. automaker said it sold 166,835 vehicles in the United States last month, compared with 205,671 vehicles a year earlier.
Sales to daily-rental companies were down 65 percent, while sales to retail customers were down 5 percent, the company said.
Results for Ford include its import brands and some medium- and heavy-duty trucks and are not adjusted for the extra selling day in January 2007.
Ford (up $0.06 to $8.19, Charts) shares edged higher in midday trade on the New York Stock Exchange.
Toyota gains
Toyota said on Thursday its U.S. sales rose 5.1 percent on an adjusted basis in January to 175,850 vehicles.
The results were adjusted for an extra selling day in January this year. Without the adjustment, Toyota sales were up 9.5 percent.
The Japanese automaker said its Toyota division posted a 4.7 percent increase in January U.S. sales, while its Lexus division sales rose 8 percent on an adjusted basis.
Shares of Toyota (up $1.25 to $133.03, Charts) rose 0.9 percent in midday Thursday trade.
Honda sales ease
Honda said Thursday its U.S. January sales fell 1.7 percent to 100,790 vehicles, adjusted for an extra selling day in January 2007.
Total adjusted car sales fell 10.7 percent while truck sales rose 11 percent.
Honda Division U.S. January sales fell 0.2 percent, while Acura Division sales were down 10.6 percent on an adjusted basis.
Last edited by johnsocal; 02-01-2007 at 01:58 PM.
02-01-2007, 01:54 PM
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Total full-size pickup retail sales were up 7 percent compared with January 2006, with positive showings by Chevrolet Avalanche up 77 percent and GMC Sierra up 13 percent. Chevrolet Silverado retail sales volume was up more than 1,000 trucks compared with last January.
The new GMC Acadia and Saturn Outlook together accounted for more than 2,300 retail vehicle sales in the month. Combined with a 25 percent increase in retail sales for Buick Rendezvous, the mid-utility segment grew retail sales 132 percent compared with year-ago January levels.
Large luxury utilities continued to perform well, with a 40 percent retail increase by Cadillac Escalade, a 116 percent retail increase by the Escalade ESV and a 44 percent retail increase by Escalade EXT, compared with January 2006. "The continued strong performance of our segment-leading Escalade luxury utilities demonstrates our ability to design and deliver outstanding large luxury SUVs, with the best value, to the marketplace," LaNeve added.
Driven by a 5 percent increase in Chevrolet Aveo retail sales, GM's economy car segment retail volume was up 5 percent compared with January 2006. A 6 percent retail increase in Buick Lucerne and a 30 percent increase in Chevrolet Impala retail sales, compared with the same month a year ago, pushed GM's mid-car segment retail volume up 3 percent.
The new GMC Acadia and Saturn Outlook together accounted for more than 2,300 retail vehicle sales in the month. Combined with a 25 percent increase in retail sales for Buick Rendezvous, the mid-utility segment grew retail sales 132 percent compared with year-ago January levels.
Large luxury utilities continued to perform well, with a 40 percent retail increase by Cadillac Escalade, a 116 percent retail increase by the Escalade ESV and a 44 percent retail increase by Escalade EXT, compared with January 2006. "The continued strong performance of our segment-leading Escalade luxury utilities demonstrates our ability to design and deliver outstanding large luxury SUVs, with the best value, to the marketplace," LaNeve added.
Driven by a 5 percent increase in Chevrolet Aveo retail sales, GM's economy car segment retail volume was up 5 percent compared with January 2006. A 6 percent retail increase in Buick Lucerne and a 30 percent increase in Chevrolet Impala retail sales, compared with the same month a year ago, pushed GM's mid-car segment retail volume up 3 percent.
02-01-2007, 02:02 PM
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It would be interesting to know what % of GM, FORD, Toyota, and Honda car and truck sales are 'leased' VS. the % that are 'purchased 'on 3 year+ contracts.
Last edited by johnsocal; 02-01-2007 at 02:32 PM.
02-02-2007, 01:26 PM
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With Ford paying off half their workers to leave, no doubt cutting sales to fleet buyers is actually going to help Ford immensely. Each car the people still working manage to assemble will make more money per car while supporting a far smaller workforce.
But those fleet buyers will have to go somewhere to satisfy their demand.
On another point, when I went to Australia last November, I was looking forward to renting a VE. But Holden wasn't offering any discounts to fleet and rental agencies, so there were essentially no Holden VEs to rent, while I could get a Falcon XR6 at the drop of a hat. If I hadn't had other resources, I'd wouldn't have had a chance to try one. Yet, I got an good apprieciation of the Falcon XR6, and understand why they are so popular down there.
Point is, I wonder if killing sales to rental agencies might backfire since people won't have a way to drive new models outside of dealer test drives with a sales rep riding shotgun.
But those fleet buyers will have to go somewhere to satisfy their demand.
On another point, when I went to Australia last November, I was looking forward to renting a VE. But Holden wasn't offering any discounts to fleet and rental agencies, so there were essentially no Holden VEs to rent, while I could get a Falcon XR6 at the drop of a hat. If I hadn't had other resources, I'd wouldn't have had a chance to try one. Yet, I got an good apprieciation of the Falcon XR6, and understand why they are so popular down there.
Point is, I wonder if killing sales to rental agencies might backfire since people won't have a way to drive new models outside of dealer test drives with a sales rep riding shotgun.
02-03-2007, 05:22 AM
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