CNN/Money 
CNNMoney.com
News > Companies
graphic
Mixed results for Big 3 automakers
GM posts strong gains; Chrysler sales up slightly, Ford's rental market hurts results.
March 2, 2004: 4:38 PM EST

NEW YORK (CNN/Money) - General Motors Corp. and Chrysler Group Tuesday reported increased U.S. vehicle sales last month while Ford Motor Co. saw sales slide due to weakness in fleet sales.

YOUR E-MAIL ALERTS
Follow the news that matters to you. Create your own alert to be notified on topics you're interested in.

Or, visit Popular Alerts for suggestions.

GM, the world's No. 1 automaker, said sales rose 5.6 percent to 349,841 vehicles from a year earlier. Sales of pickup trucks and sport/utility vehicles rose 3.8 percent to 196,106, while car sales jumped 8.6 percent to 157,011.

"GM's February sales improved nicely compared to last month and the prior year, giving us momentum as we move into the spring selling season," GM group vice president John Smith said in a statement.

Chrysler, the North American unit of German automaker DaimlerChrysler AG, overcame a sharp decline in sales models to post a 1 percent gain in overall sales compared to a year earlier to 172,647 vehicles. Its light truck sales jumped 8 percent to 137,247, while its car models, a relatively small part of its sales total, fell 18 percent to 35,400.

Chrysler, said it saw a 7 percent gain in retail sales to individual customers. It did not give details about the drop in fleet sales in the period.

At Ford, the nation's No. 2 automaker, overall vehicle sales fell 2.4 percent from a year earlier to 261,694.

Sales of light trucks rose 4.3 percent but car sales sank 13.4 percent.

The company said much of the drop was due to a decision to cut back fleet sales to businesses, particularly to rental car companies that generally pay less for vehicles. Hertz, the nation's No. 1 rental company, is owned by Ford.

"We're convinced this is the right thing to do from a long-term perspective but the withdrawal of this in some months is sometimes painful," said George Pipas, manager of sales analysis for Ford.

The company said sales to individual retail customers rose 1 percent in the month, while fleet sales sank 11 percent.

Shares of GM (GM: down $0.05 to $48.60, Research, Estimates), a component of the Dow Jones industrial average, and DaimlerChrysler (DCX: down $0.14 to $44.91, Research, Estimates) edged lower in afternoon U.S. trading following the report. Ford (F: up $0.13 to $14.12, Research, Estimates) shares edged higher.  Top of page




  More on NEWS
Santa showers Fannie, Freddie with cash
China revises 2008 GDP higher
Free shipping! Rhode Island's eBay play
  TODAY'S TOP STORIES
More cash registers a ringin'
Wall Street counts down to a new year
A jolly holiday for mortgage bosses




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.