AP
Ford Motor, GM Sales Decline in April
Tuesday May 3, 2:43 pm ET
By Sarah Karush, Associated Press Writer
Ford, General Motors Sales Fall in April; Toyota Reports Record Sales on Hybrid Demand
DETROIT (AP) -- The nation's two largest automakers on Tuesday reported lower April demand, as light truck sales slipped against a backdrop of higher gas prices. Toyota Motor Corp. reported record U.S. sales, however, saying consumers snapped up hybrid and fuel-efficient vehicles.
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No. 1 General Motors Corp. said its total vehicle sales fell 7.7 percent. A 17.2 percent reduction in truck sales was offset by a 7.9 percent increase in car sales.
No. 2 Ford Motor Co. said its sales fell 5.1 percent. Sales of Ford, Lincoln and Mercury brand cars were off 2.4 percent from April 2004, while truck sales fell 6.4 percent. Ford said the decline in truck volume was due to lower sales of traditional sport utility vehicles, while crossovers and full-size pickups saw increased demand.
Sales percentages are adjusted for differences in the number of selling days. There were 27 selling days in April 2005 and 26 in April 2004.
Toyota, meanwhile, reported its best-ever sales month, with overall vehicle sales rising 21.3 percent from April 2004. Car sales were up 36 percent, while truck sales rose 4.8 percent.
"Consumer appetite for hybrid and fuel-efficient vehicles continues unabated," said Jim Press, executive vice president of Toyota Motor Sales USA Inc.
Despite GM's decline in overall sales, the company was upbeat about the results for some of its new models.
"High-volume sedans such as the Pontiac G6, Chevrolet Cobalt and Buick LaCrosse are vital to our success in the marketplace. We are beginning to show significant year-over-year gains with our launch cars compared to the models they replaced," said Mark LaNeve, GM's vice president for North American sales, service and marketing.
At Ford, the Mustang continued its strong pace with sales of 19,559 -- the highest April sales for the car since 1980, Ford said.
"Right now, the only thing keeping Mustang at bay is lack of inventory," said Steve Lyons, Ford's vice president for North American marketing, sales and service. He estimated Ford dealers had fewer than 13,000 Mustangs in stock at the end of April.
Ford also reported strong demand for its new sedans, the Ford Five Hundred and Mercury Montego, and for the Ford Freestyle crossover utility. Combined sales for the three vehicles exceeded 18,000 for the first time, the company said.
Ford shares gained 20 cents, or 2.2 percent, to $9.42 in afternoon trading on the New York Stock Exchange. GM shares rose 36 cents, or 1.3 percent, to $27.52.
GM last month reported its deepest quarterly loss in more than a decade -- $1.1 billion.
Ford, meanwhile, posted earnings of $1.2 billion, or 60 cents a share, down from $1.95 billion, or 94 cents, the year before. The company also predicted a tough second quarter, with earnings ranging from break-even to a loss of 15 cents a share, and cut its second-quarter production plans 3.7 percent to 905,000 vehicles.
Ford Motor Co.: ford.com
General Motors Corp.: gm.com
Toyota Motor Corp.: toyota.com |
