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Ford, Toyota Show Gain in Stabilizing U.S. Market as GM Slides
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| Contributor | kal |
| Last Edited | kal Jan 06, 2010 06:09am |
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| Category | General |
| News Date | Wednesday, January 6, 2010 12:00:00 PM UTC0:0 |
| Description | Ford Motor Co. and Toyota Motor Corp. took U.S. market share in December from General Motors Co. as the government-controlled automaker couldn’t take advantage of improving consumer demand.
GM reported a 5.7 percent drop in light-vehicle deliveries, worse than analysts anticipated, while Chrysler Group LLC’s 3.7 percent decline exceeded estimates. Ford sales soared 33 percent, and Toyota jumped 32 percent.
“People are waking up and realizing the world didn’t end and are starting to return to showrooms,” said Aaron Bragman, a forecaster at IHS Global Insight in Troy, Michigan. “It’s way too early to say the trend is pointing north, but if it continues this quarter, it’s a positive sign.”
A 15 percent increase in December industrywide sales capped automakers’ first quarterly improvement since the last three months of 2006, after October and November totals were little changed. The recession and bankruptcies at the predecessors of Detroit-based GM and Chrysler ravaged 2009 sales.
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