NEW YORK (CNN/Money) - General Motors Corp. and Ford Motor Co. both reported improved September sales Wednesday, while competitor Chrysler Group's sales fell, although it was able to narrowly climb back into third place in terms of U.S. sales.
| Related stories
|
|
|
|
|
GM, the world's largest automaker, posted U.S. sales of 364,206 light vehicles in the month, with its daily sales rate up 12.7 percent from a year earlier. The overall sales were up even more -- nearly 18 percent -- due to an additional sales day in this year's period. Car sales rose 10.3 percent on a daily sales rate basis while light trucks, which include pickups, sport/utility vehicles and vans, rose at 14.7 percent rate.
The results allowed GM to close the third quarter with improved sales and market share. Paul Ballew, GM's executive director for market and industry analysis, said the company believes the industry should see a relatively strong fourth quarter and increased sales in 2004 which, unless sales rebound more strongly than expected the rest of this year, would mark the first increase since 2000.
"I think all of us feel better about economic fundamentals than we did six months ago," he said.
Ford, the world's No. 2 automaker, sold 294,991 vehicles in the month, up 5.2 percent from a year earlier. Car sales fell 11.3 percent to 87,219 but light trucks increased 14.2 percent to 207,772, lifted by a 31 percent increase in sales of its F-series pickup trucks to a September sales record.
Ford is rolling out a redesigned F-150 pickup, the nation's best selling vehicle, and dealers were selling 2003 models as well as some of the new 2004 versions.
Ford said in addition to strong pickup truck sales, its various SUV models also posted a September sales record for the vehicle type. Ford executives said the mix of vehicles sold improved even more than the raw number, with more buyers choosing more expensive models and option packages.
"The real story is the improvement in revenue and product mix," said George Pipas, Ford's manager of sales analysis.
Chrysler's daily sales rate fell 15 percent from a year earlier despite a major push on incentives. The nation's No. 3 automaker trailed No. 4 Toyota Motor Corp. for the first time in August but moved slightly ahead in September, with total vehicle sales of 147,114. Toyota set a September U.S. sales record of 140,754 vehicles, with a daily sales rate gain of 10.5 percent. Toyota also topped the 500,000 mark in quarterly U.S. sales for the first time in its history.
Click here for a look at auto stocks
Other Asian-based producers also reported gains, as Japan's Honda and Korea's Hyundai reported record September U.S. sales.
|
