GM, Ford Lose More Ground to Toyota
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
With high gasoline prices taking center stage yet again, General Motors Corporation yesterday reported a 12.5% decline in American vehicle sales in May, losing even more ground to foreign rivals than analysts had initially predicted.
Ford Motor Company fared better than its domestic peers with a 1.9% decline that the consensus on Wall Street had pegged to be worse. Toyota Motor Corporation and Honda Motor Company, in a recurring theme, bucked the 315 1329 389 1341trend with double-digit sales gains.
Toyota has steadily narrowed the market-share gap. In April 2002, GM stood at 29.1% versus Toyota’s 9.8%, according toEdmunds.com. Last month, GM’s share had fallen to 23.3%, while Toyota’s jumped up to 15.2%. GM’s lead in its home market slimmed again in May.
Sales figures in this report weren’t adjusted for one more selling day in May 2006 than in the same month a year ago.
