February Vehicle Sales: GM Falls 53%, Ford Down 48%, Chrysler Slumps 42%, Toyota Off 37%
UPDATED with Chrysler, General Motors, Nissan, Hyundai, BMW
General Motors said sales fell 52.9 percent in February compared with the same month a year ago, as the auto giant continues to struggle for financial stability and the credit crunch continues to affect its potential customers. GM said this afternoon that it delivered 127,296 vehicles last month, a decline driven by a 75 percent drop in vehicle fleet sales. The company said retail sales fell by 43 percent.
"It remains a tough and challenging market, but seeing some upticks in volume and showroom traffic compared with last month is encouraging. Our new products continue to take hold in the market and we are estimating retail share increases with Malibu, Traverse, Enclave, HHR, Cobalt and G6. This is in line with our viability plan which is focused on passenger cars and crossovers in addition to our strong truck lineup," said Mark LaNeve, vice president, GM North America Vehicle Sales, Service and Marketing, in a statement.
Ford's February sales dropped by 48 percent compared to February 2008, and Toyota's were down 37 percent, in figures released today.
February sales for privately held Chrysler -- considered the weakest of the Big Three -- dropped 41.7 percent.
Germany's Volkswagen said moments ago that its U.S. February sales were down 18 percent. VW has been weathering the auto slump better than most, though it has a small U.S. footprint: VW sales in February totaled only 13,600 vehicles, compared to Ford, which sold 99,060 vehicles last month.
In actual good news, Subaru said its February U.S. sales were up by 1 percent.
Germany's Daimler reported that its U.S. February sales were down 21 percent.
BMW's February U.S. sales were down 35 percent.
Nissan sales were down 37 percent.
Hyundai sales were down 1.5 percent.
Check back here throughout the day to see how the other automakers did in February; The Ticker will update as those figures arrive.
March 3, 2009; 3:44 PM ET
Categories: The Ticker | Tags: Chrysler, Ford, GM, automakers
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