CNN/Money  
graphic
News > Companies
graphic
Big Three's December sales rise
GM sales jump 36%, while Ford foresees slight rise in 1Q production plans; Chrysler sales also up.
January 3, 2003: 3:36 PM EST

NEW YORK (CNN/Money) - The holidays were very good to U.S. automakers, as General Motors Corp. December sales soared above year-ago levels, while No. 2 Ford Motor Co. posted modest gains and Chrysler Group notched an increase in U.S. sales as well.

GM, the world's largest automaker, had a 36 percent increase in U.S. sales for the month to 473,663 vehicles. The sales burst brought the company's full-year sales to only 0.9 percent below year-ago levels, a far stronger outlook than expected earlier in the year.

GM's sales gains were well balanced between cars and light trucks, which include pickups, minivans and sport/utility vehicles, with car sales up 37 percent and light trucks up 36 percent.

Ford sold 304,293 new vehicles in the U.S. market during December, up 8.2 percent from a year earlier. Car sales increased 16.3 percent, while light trucks increased 4.9 percent.

And Chrysler Group, a division of DaimlerChrysler AG (DCX: Research, Estimates), said U.S. vehicle sales rose 1 percent to 172,494 in December, led higher by Jeep sales. But overall 2002 sales fell 3 percent.

The latest results left Ford's 2002 sales of 3.6 million vehicles off 8.8 percent from the prior year, when it sold just under 4 million. But December sales were enough to prompt the company to raise production plans for the first quarter by 10,000 to 1.01 million vehicles.

"We're encouraged by our steady progress in winning back U.S. market share," Ford Group Vice President Jim O'Connor said. "We're a stronger company than we were a year ago when we announced the revitalization plan. Our goal in 2003 is to build on the foundation we laid in 2002."

Ford said its F-Series pickup truck again was the nation's best-selling vehicle, with 813,701 sold. It also said the Ford brand held on to the title of best-selling brand in the nation, a distinction it lost to GM's Chevrolet at one point earlier in the year.

Despite the strong sales, shares of both GM (GM: down $0.45 to $38.50, Research, Estimates) and Ford (F: down $0.24 to $9.70, Research, Estimates) were slightly lower following the reports. DaimlerChrysler (DCX: Research, Estimates) also fell.  Top of page




  More on NEWS
November home sales leap
Economic rebound weaker
Put Santa's elves on a budget
  TODAY'S TOP STORIES
Another big leap for home sales
Stocks get a housing boost
It's a weaker economic rebound




graphic graphic

© 2009 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy. Advertising Practices.
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.