GM, Ford April Sales Fall, Chrysler’s Rise

Industry analysts estimate 14.4 million annual sales rate for 2012

   

GM, Ford April Sales Fall, Chrysler’s Rise

General Motors (NYSE:GM) and Ford (NYSE:F) reported lower sales for April, while Chrysler and Volkswagen posted double-digit gains during the month.

GM sold 213,387 vehicles during April, down 8% compared to last year. The company attributed the drop to a 25% decline in fleet sales. GM estimated total U.S. auto sales at between 14 million and 14.5 million for 2012, a boost from its previous forecast of between 13.5 million to 14 million.

cars GM, Ford April Sales Fall, Chrysler's Rise
U.S. Automoblile Sales Rise; GM and Ford Miss Forecasts

Ford said its vehicles sales dropped 5% in April, compared to last year. The company sold 180,350 vehicles last month, down from 189,778 last year, and well off March sales of 233,418 vehicles.

Car sales declined 11% at Ford during April, while truck and SUV sales both slid 1%. Sales of Ford-branded vehicles dropped 4.7% while Lincoln sales slumped by 13%. The company noted sales of its Ford Edge and Ford Focus grew by 13% and 12%, respectively.

Chrysler, owned by Fiat, announced that its April sales jumped 20%, rising to 141,165 vehicles sold, compared to 117,225 during the same time last year.

Still, sales slid 14% compared to March, when Chrysler sold 163,381 vehicles. Cars sales jumped 37% in April while sales of truck increased 13%. Chrysler-branded vehicle sales soared 56%, while Jeep sales rose 19% and Dodge sales edged up 2%.

The company said that it anticipated an annualized rate of sales for the entire industry to hit 14.6 million vehicles, topping the average estimate of 14.4 million vehicles predicted by analysts surveyed by Reuters.

Volkswagen (PINK:VLKAY) said its sales jumped 31.5% over last year. VW sold 37,525 vehicles in April, though sales of its leading Jetta model were flat compared to 2011.


Article printed from InvestorPlace Media, http://investorplace.com/2012/05/gm-ford-april-sales-fall-chryslers-rise/.

©2014 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.