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October sales: Ford up 3%, GM up 4%, Chrysler down 32%, Toyota down 3.5%

UPDATED at 1:47 p.m. with GM:

Chrysler's October sales were down 32.3 percent compared to October of last year, the company reported moments ago, a number that came in worse than Wall Street expected.

Moments ago, GM reported that October sales rose 4 percent, which just missed expectations of a 4.4 percent gain.

Earlier this afternoon, Ford -- the only U.S. automaker to decline government aid -- said October sales were up 3 percent compared to last October, and up 21 percent from September.

And Toyota, the world's largest automaker, reported that its October sales were down 3.5 percent compared to October of last year.

If the numbers from GM, due out shortly, come in as expected, the industry could be on pace for a yearly sales rate of 10.2 million, which is what the auto industry needs for profitability.

October of course was a clunker-free sales month, which makes Ford's showing all the more impressive.

GM and Chrylser emerged from government-backed bankruptcies earlier this year. The government owns 60 percent of the reorganized GM and Italian automaker Fiat owns 20 percent of Chrysler.

Keep checking back here throughout the day as other automakers release their October results.

-- Frank Ahrens
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By Frank Ahrens  |  November 3, 2009; 1:47 PM ET
Categories:  The Ticker  | Tags: Chrysler, Fiat, Ford, GM  
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Comments

And now Edmunds reports that Obama's Cash for Clunkers debacle cost $24,000 per vehicle and didn't help auto sales.

Posted by: Jerzy | November 3, 2009 4:14 PM | Report abuse

How can anyone see this as positive? This is entirely a Government created bubble via your tax dollars a.k.a. Cash4Clunkers.

We're pumping more vehicles into an already saturated market of used and repossessed cars (see www.repofinder.com).

Supply and demand.

Posted by: MikeDudical | November 3, 2009 4:31 PM | Report abuse

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