2nd UPDATE: Auto Sales Remain Bleak In April; Toyota Lags
01 Mai 2009 - 9:17PM
Dow Jones News
U.S. vehicle sales data released Friday delivered no signs of
economic recovery despite widespread hope the beleaguered auto
industry would begin to see relief in April.
The annual selling rate remained stuck in the low- to-mid 9
million vehicles, likely falling below 850,000 car and truck sales,
according to early auto maker estimates. The drop represents a
decline of 35% to 40% from a year ago.
"Industrywide, April felt more like a dust bowl than a spring
garden for new car sales," said Jim O'Donnell, president of BMW in
North America, in a statement.
Uncertainty around General Motors Corp. (GM) and Chrysler LLC,
which entered bankruptcy protection on Thursday, helped drag sales
down toward the month's end and erased a strong start to the month,
auto makers said.
"I thought we were going to close much better than we did," GM
sales Chief Mark LaNeve said. "We didn't see a significant break up
or down."
Meanwhile, shaky consumer confidence and high levels of
joblessness offset benefits of increased credit availability, deep
discounts on cars and trucks and U.S. government backing of
warranties on GM and Chrysler vehicles.
While auto makers said they see signs of an impending rebound,
more turmoil lies ahead this spring as GM and Chrysler race to
remake themselves under close watch of the U.S. government.
Even so, most auto makers posted their best sales figures of the
year in April. An exception was Toyota Motor Co. (TM), reporting a
42% slump from a year earlier and allowing Ford Motor Co. (F) to
eclipse it in monthly sales for the first time since March
2008.
Ford, the healthiest of the Detroit Three said it continued to
outperform rivals with market-share gains, led last month by record
sales of the Fusion sedan. Honda Motor Co. (HMC) also saw its
results strengthen, posting a smaller decline of 25% for April.
GM, meanwhile, sold 172,150 light vehicles in April, down 33%
from a year earlier. But volumes rose 11% from March. There were 26
selling days in April, the same as a year ago. Truck sales,
including crossovers, fell 28%, while car sales slipped 41%.
Ford recorded a 33% drop to 133,979, as Ford, Lincoln and
Mercury car sales dropped 31%. Sport-utility vehicles continued to
tumble - down 61% in April. Sales of trucks and vans dropped
36%.
Toyota sales fell to 126,540 with cars and trucks down by
similar percentages, while Honda reported sales of 101,029 amid an
18% drop for cars. Nissan Motor Co. (NSANY) had a 38% slump to
47,190. The company is seen by analysts as potentially falling
behind Hyundai Motor Co. (005380.SE) in monthly sales for the first
time.
GM's shares were down 6.3% to $1.80 in recent trading, as Ford
dropped 3.5% to $5.77. Toyota's American depositary shares rose
0.1% to $79.21 and Honda's ADS added 0.5% to $29.20, while Nissan's
ADS dropped 0.7% to $10.33.
-By John Kell and Sharon Terlep, Dow Jones Newswires, 201-938-5285, john.kell@dowjones.com
Order free Annual Report for Toyota Motor Corporation
Visit http://djnewswires.ar.wilink.com/?link=TM or call
1-888-301-0513