March sales: Toyota up 41%, Ford up 40%, GM up 21%, Honda up 23%, Chrysler down 8%
UPDATED at 2:57 p.m.
Toyota beat management predictions for March sales, saying today that sales last month were up 41 percent compared to March 2009.
Toyota officials had said March sales could be as high as 40 percent compared with last March, following a 9 percent dip in February, as the automaker suffered through two big recalls and bad PR. Toyota has rolled out we'll-practically-pay-YOU-to-buy-a-Toyota incentives, which will be good for volume but will show up in future earnings as reduced profit. The automaker was offering 0 percent financing and cheap leases.
Ford also had a terrific month, as the automaker said demand for its Fusion and Taurus sedans drove up March sales 40 percent compared to last year. Ford is the only one of the Big Three Detroit automakers not to receive a federal bailout.
General Motors said March vehicle sales rose 21 percent compared with March 2009, as buyers flocked to take advantage of incentive deals.
GM said sales of its four core brands -- Chevy, Cadillac, GMC and Buick -- rose 43 percent in March.
Chrysler's March sales fell 8 percent compared to last year, as the automaker continues to struggle with its Fiat integration and post-bankruptcy vehicle development.
Other automakers' March results:
-- Honda was up 23 percent overall. Sales of Honda cars were up 13 percent.
-- Nissan was up 43 percent.
-- Subaru continues to build its U.S. market in leaps and bounds, with March sales shooting up 46 percent compared with last year.
-- Hyundai reported record March sales, with a 15 percent improvement over March of last year.
-- Kia reported a record 24 percent March sales hike.
-- Porsche North America sales were up 9 percent.
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April 1, 2010; 2:57 PM ET
Categories: Autos , The Ticker | Tags: Chrysler, Ford, GM, General Motors, Hyundai, Kia, Porsche, Subaru, Toyota, auto sales
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