graphic
News > Companies
GM cuts sales target
November 20, 2000: 3:24 p.m. ET

Largest automaker says sales to fall 4% to 7% from a year ago
graphic
graphic graphic
graphic
NEW YORK (CNNfn) - In another sign of cooling U.S. auto sales market, General Motors Corp. said it expects vehicle sales in November to be down between 4 and 7 percent from a year ago.

The world's largest automaker said it believes those decreases will be in line with expected decreases in overall industry volume.

graphicThe company said it believes car sales will be 5 to 8 percent below a year ago while sales of trucks, which include sport/utility vehicles, minivans and pickups, should fall between 2 and 5 percent. Fleet sales are expected to decline 8 to 11 percent, a possible sign of slowing business activity, while retail sales to consumers are expected to be off 2 to 5 percent.

The automaker already has cut North American production plans by 12 percent from prior forecasts for the fourth quarter, and expects to build 1.38 million vehicles in the current period.

Competitors also are having problems. DaimlerChrysler Friday named a new head of its Chrysler unit and said the change in the U.S. auto market in the fourth quarter will hit the company's results.

Shares of GM (GM: Research, Estimates), a component of the Dow Jones industrial average, fell $3.25 to $52.63 in trading Monday. graphic

  RELATED STORIES

GM earnings forecasts hit the skids - Oct. 13, 2000

GM posts record 3Q EPS and looks at separating from Hughes - Oct. 12, 2000

Daimler lowers Chrysler forecast - Nov. 17, 2000




graphic


© 2009 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy
Live Quotes automatically refresh, but individual equities are delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET.
* : Time reflects local markets trading time. † - Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Disclaimer
Copyright © 2009 BigCharts.com Inc. All rights reserved. Please see our Terms of Use.
MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc.
Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use.
Intraday data is at least 20-minutes delayed. All times are ET.
Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data.
Fundamental data provided by Morningstar, Inc..
SEC Filings data provided by Edgar Online Inc..
Earnings data provided by FactSet CallStreet, LLC.
Home | Contact Us | Advertise with Us | Corrections | Career Opportunities | Site Map
RSS | Email Delivery | Portfolio | Podcasts | Mobile | Widgets | User Preferences | Special Sections
| Magazine Customer Service | Download Fortune Lists | Reprints | Conferences | Business Leader Council