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Non-Tech : GM - General Motors

GM 68.78

+2.8%

Nov 5 3:59 PM EST

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From: JakeStraw	5/24/2005 10:19:08 AM
	of 543

Deutsche Bk. says May auto sales continue to be soft By Tomi Kilgore NEW YORK (MarketWatch) -- Deutsche Bank said a survey of auto dealers suggests light vehicle sales will continue to be soft in May, with General Motors (GM) and Ford Motor (F) expected to underperform. Analyst Rod Lache sees GM May sales down 5.6% from the same period a year ago, with market share declining to 25.2% from 26.8%. Ford sales are projected to drop 8% with market share down to 17.4% from 19.1%. Lache expects Chrysler sales to be flat to up slightly and market share to be flat as well. The survey suggests used car sales were also weak. "Given the ongoing share loss experienced at both General Motors and Ford, we continue to believe that higher-than-anticipated inventories, especially in the light of higher floor plan costs associated with higher short-term interest rates, may require further production cuts," Lache said.

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