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
JPMorgan dramatically slashes Tesla's stock price forecast
Greece is finally done with its epic bailout binge
Europe is preparing another crackdown on Big Tech
  TODAY'S TOP STORIES
7 things to know before the bell
SoftBank and Toyota want driverless cars to change the world
Aston Martin falls 5% in its London IPO




graphic graphic

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.