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Old 06-01-2010, 01:05 PM   #1
Sprint XR8
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Default Ford US Sales Up 33%; GM, Chrysler Post Declines

Ford Sales Up 33%; GM, Chrysler Post Declines

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JANUARY 5, 2010. The auto industry in the U.S. closed the year on a positive note—led by strong December results from Ford Motor Co. and Toyota Motor Co.—as many executives predicted a gradual recovery in 2010.

After auto sales slumped around the world last year, the industry is hopeful that consumers will return to dealers' showrooms as some economic barometers highlight that an economic recovery is under way. The industry is moving away from the boost it received this summer from the U.S. government's cash-for-clunkers incentive program, but will be helped by easier comparisons over the next several months, as auto sales were especially brusing in the beginning of 2009.
Ford posted a 33% rise in December U.S. light-vehicle sales, ending a stellar year compared with the auto maker's rivals. Ford recorded its first full-year market share gain since 1995.

Meanwhile, Chrysler Group LLC posted a 3.7% decline and said its full-year sales were the worst the auto maker had experienced in 47 years.

The largest U.S. auto maker—General Motors Co.—posted a 5.7% decline, but said its process to sell down Pontiac and Saturn inventory was ahead of schedule and reported a 2.2% increase for the four brands GM will keep after its streamlining.
Honda Motor Co. and Nissan Motor Co. joined their bigger Japanese rival, Toyota, in reporting strong sales.

Toyota, with a 32% gain, came close to catching GM in terms of U.S. sales in December. Toyota said it sold 187,860 vehicles in the U.S. during the month compared with GM, which sold 193,824 cars and trucks once the auto maker's noncore brands of Pontiac, Saturn, Hummer and Saab are subtracted. GM has agreed to sell Hummer, and is in the process of killing Pontiac and Saturn. The fate of Saab is unclear.

Toyota said it sold the most cars and light trucks to U.S. consumers last year of any manufacturer for the first time, beating out GM, which relies more heavily on sales to fleet customers.

"Looking at preliminary figures, Toyota for the first time should end up as the number one manufacturer in retail sales," said Don Esmond, Toyota senior vice president for automotive operations, during a conference call. "We feel great momentum heading into 2010."

Toyota, which sold 1.77 million cars and trucks in 2009, a 20% drop from a year earlier, sold 1.6 million vehicles to retail customers last year. GM said it sold 2.07 million vehicles last year, and didn't immediately break out its overall retail sales for 2009.

Last month's results underscore how the auto makers have responded to the recession that began officially in December 2007 and led to the bankruptcy filings of Chrysler and GM. Auto makers have reduced production, cut jobs and offered more incentives to spark sales.
Overall, U.S. auto sales are expected to finish the year at 10.4 million vehicles, Ford sales analyst George Pipas said. That would be the lowest level since 1982, when sales were 10.3 million, according to Autodata Corp. GM, though, said it expected the seasonally adjusted annual rate in December to be about the same as November—11 million to 11.2 million—resulting in total vehicle sales of 10.6 million for 2009, the lowest since 1992.

Ford put its U.S. share at about 15% for the year—about one percentage point higher than 2008. December's sales growth marks the fifth time in six months Ford has experienced increases. The company's U.S. light-vehicle sales were 183,701 in December, compared with 138,325 a year earlier. There were 28 selling days in December, two more than last year.

For the year, Ford's sales were 1.62 million, down 15%.

Ford shares closed up 6.6% at $10.96 on the New York Stock Exchange on Monday, finishing at the highest level since July 2005.

At GM, retail sales of the core Chevrolet, Buick, GMC and Cadillac rose 13% in December, but fleet sales slumped 33% and sales in noncore brands tumbled 55%. The largest U.S. auto maker said it sold 2.1 million vehicles in 2009, down 30% from a year earlier.

"The fact that our retail market share has increased two full points from the third to fourth quarters demonstrates that we are strengthening our brands," said GM U.S. sales executive Susan Docherty.

The company said its sell-down of the Pontaic and Saturn brands was 10 months ahead of schedule, with only about 1,700 of those vehicles remaining. The company had offered late-month dealer incentives to clear the brands.

December's dealer inventory was 385,000 vehicles—the lowest year-end level on record, according to GM.
Chrysler said sales fell to 86,523 vehicles in December, with car sales up 31% and truck sales off 14%. For all of 2009, Chrysler's sales declined 36% to 931,402. Chrysler, which left bankruptcy protection in June under the management control of Fiat SpA, has performed the worst of any of the major auto makers.

Toyota's 32% rise was led by a 44% surge for cars. Mr. Esmond, the Toyota operations executive, said the auto industry has gained positive momentum for a gradual recovery after a rollercoaster 2009.

Honda had a 24% gain in December, leaving 2009's decline at 20%. Earlier Tuesday, the Japanese auto maker said the decline in global auto sales has ebbed, but that an immediate recovery in the major markets of the U.S., Japan and Europe is unlikely.

Also, Nissan Motor Co.'s sales rose 18%, though full-year results declined 19%. "Despite the huge challenges and uncertainties of last year, combined Nissan and Infiniti market share set a record in 2009," said a Nissan U.S. sales and marketing executive, Brian Carolin.

Meanwhile, Hyundai Motor Co. reported December U.S. sales rose 41%, while full-year sales increased 8.3%. The South Korean auto maker said it posted market-share increases each month of 2009, resulting in what Hyundai believes was the biggest market-share gain in the industry.
http://online.wsj.com/article/SB1000..._LEFTWhatsNews

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