GM, Ford Report Declines in Sales
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General Motors and Ford Motor both reported 26% sales declines for October, as demand continued to slump after the summer’s discount-fueled sales bonanza.
Sports-utility vehicles again took a big hit amid high gasoline prices. Sales of the Ford Explorer, Lincoln Navigator, and Chevy Suburban were all down 50% or more.
Chrysler Group’s vehicle sales slipped 3.1%, after the American unit of DaimlerChrysler saw sales climb in September. Among Japanese auto makers, Nissan Motor’s American arm reported a 17% drop, while Toyota Motor’s American sales climbed 1.3%.
“Although a slowdown after the record sales of the last several months was expected, October was a difficult month for us and the industry,” the GM North America marketing vice president, Mark LaNeve, said in a statement yesterday.