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March U.S. auto sales on the rise
By August Cole, CBS.MarketWatch.com
Last Update: 3:31 PM ET April 1, 2004
SAN FRANCISCO (CBS.MW) -- U.S. auto sales rose last month, automakers said Thursday, a comparison colored by last year's run-up to the invasion of Iraq.
Most industry watchers had expected sales to rise from February's levels, citing the improving economy and seasonal trends. See full story.
That momentum, including high-end models, is expected to continue through the spring and into early summer.
"Even as luxury car sales going forward benefit from a stronger U.S. stock market, lingering unemployment has left some new and used car customers of modestly priced vehicles out of the market until the second half of the year," said Paul Taylor, chief economist at the National Association of Auto Dealers, in an e-mail update. He still expects annualized sales of 16.8 million vehicles.
A year ago, sales fell in the month as the country girded for war ahead of the March 19 attack. See full story.
First up reporting March sales, Ford Motor (F: news, chart, profile) posted a 2.7 percent gain from last year to 310,565 vehicles, lifted by an 8.4 percent increase in trucks. Overall car sales fell 6.6 percent.
The company's most popular vehicles in March were the F-series trucks. Ford's luxury brands -- Jaguar, Volvo and Lincoln -- all reported higher sales.
Ford-affiliated Mazda said that it sold 37 percent more vehicles in March than it did last year for a total of 25,321. The company's new Mazda3 series was the most popular of its products.
General Motors (GM: news, chart, profile) said that its March U.S. sales rose 5.9 percent from last year to 414,949 vehicles as both car and truck sales increased. The company's new Chevrolet sedans did very well, as did Cadillac's sedans -- an important measure of the company's emphasis on its nontruck products.
Overall first-quarter sales rose 5 percent. The world's largest automaker also launched a new round of free financing on new trucks and aggressive cash discounts, as well.
Toyota Motor (TM: news, chart, profile) said Thursday that its March U.S. sales rose 5.5 percent to a record 174,209 vehicles -- with a cumulative 464,721 Toyota and Lexus vehicles sold during the first quarter, also a high. The most popular vehicle was the Camry sedan.
Chrysler Group said Thursday that U.S. sales in March were 2 percent lower than last year at 197,856 vehicles. Truck sales were flat and car sales dropped 10 percent.
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By August Cole, CBS.MarketWatch.com
Last Update: 3:31 PM ET April 1, 2004
SAN FRANCISCO (CBS.MW) -- U.S. auto sales rose last month, automakers said Thursday, a comparison colored by last year's run-up to the invasion of Iraq.
Most industry watchers had expected sales to rise from February's levels, citing the improving economy and seasonal trends. See full story.
That momentum, including high-end models, is expected to continue through the spring and into early summer.
"Even as luxury car sales going forward benefit from a stronger U.S. stock market, lingering unemployment has left some new and used car customers of modestly priced vehicles out of the market until the second half of the year," said Paul Taylor, chief economist at the National Association of Auto Dealers, in an e-mail update. He still expects annualized sales of 16.8 million vehicles.
A year ago, sales fell in the month as the country girded for war ahead of the March 19 attack. See full story.
First up reporting March sales, Ford Motor (F: news, chart, profile) posted a 2.7 percent gain from last year to 310,565 vehicles, lifted by an 8.4 percent increase in trucks. Overall car sales fell 6.6 percent.
The company's most popular vehicles in March were the F-series trucks. Ford's luxury brands -- Jaguar, Volvo and Lincoln -- all reported higher sales.
Ford-affiliated Mazda said that it sold 37 percent more vehicles in March than it did last year for a total of 25,321. The company's new Mazda3 series was the most popular of its products.
General Motors (GM: news, chart, profile) said that its March U.S. sales rose 5.9 percent from last year to 414,949 vehicles as both car and truck sales increased. The company's new Chevrolet sedans did very well, as did Cadillac's sedans -- an important measure of the company's emphasis on its nontruck products.
Overall first-quarter sales rose 5 percent. The world's largest automaker also launched a new round of free financing on new trucks and aggressive cash discounts, as well.
Toyota Motor (TM: news, chart, profile) said Thursday that its March U.S. sales rose 5.5 percent to a record 174,209 vehicles -- with a cumulative 464,721 Toyota and Lexus vehicles sold during the first quarter, also a high. The most popular vehicle was the Camry sedan.
Chrysler Group said Thursday that U.S. sales in March were 2 percent lower than last year at 197,856 vehicles. Truck sales were flat and car sales dropped 10 percent.
Article Here
