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Automakers' sales mixed
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April 3, 2001: 4:18 p.m. ET
Honda, Toyota report higher sales; Chrysler says sales down 10% in March
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NEW YORK (CNNfn) - Ford, General Motors and Chrysler reported lower March sales Tuesday, while Honda and Toyota said sales inched higher.
Honda said March sales rose 1.4 percent to 106,347, and its light truck sales soared 26.4 percent from a year-ago period.
Toyota reported March sales 11.4 percent higher, with 156,444 vehicles sold for the month, while light truck sales jumped 23.8 percent to 37,421.
Nissan, however, said March sales dropped 0.5 percent to 69,200, and its light truck sales dropped 17.6 percent in the U.S. to 18,291.
The Chrysler unit of DaimlerChrysler AG said its March sales fell 10 percent, slightly less than expected.
Chrysler's U.S. car sales were down 22.6 percent to 60,620 vehicles, while its light truck sales were off 4.7 percent to 173,875.
The U.S. arm of the world's fifth-largest automaker had seen its sales decline faster in recent months than the rest of the industry, and increased rebates and cheap loans on many models in mid-February.
 Analysts had predicted that Chrysler sales would decline 12-to-15 percent in March from the year-ago month.
Ford said U.S. vehicle sales fell 12.6 percent from last year's record pace. The world's No. 2 automaker said its second-quarter production will be 7 percent lower than a year ago.
Ford said U.S. car sales fell 18.1 percent from the year-ago month to 146,969, while truck sales, including heavy trucks, dropped 8.8 percent to 239,100.
The figures include U.S. results for Jaguar, Volvo and Land Rover.
Ford said its second-quarter production cut includes a previously announced reduction of 20,000 Ford Expedition and Lincoln Navigator sport/utility vehicles. Ford said it now plans to build 1,230,000 vehicles this quarter, 89,000 less than in the second quarter of 2000.
 Analysts had predicted that Ford's sales would fall as much as 20 percent from its company record for monthly sales last March.
GM, the world's largest automaker, said car sales fell 4.6 percent to 213,310, while light truck sales were down 5 percent to 229,263.
The results include sales of GM's Saab unit and heavy trucks. Analysts had predicted GM's sales would decline between 5 percent and 8 percent.
GM said its second-quarter production schedule will remain unchanged at 1.3 million vehicles.
"Industry sales have held up better than expected despite a backdrop of economic uncertainty, and we think this trend will characterize all of 2001," said Bill Lovejoy, group vice president of GM's North America vehicle sales, service and marketing.
Shares of Ford (F: Research, Estimates) fell $1.24 to $27.37 just before the close of trading Tuesday afternoon trading. GM (GM: Research, Estimates) stock dropped $1.18 to $50.85, and DaimlerChrysler (DCX: Research, Estimates) shares gained 11 cents to $44.68.
-- from staff and wire reports 
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