Subject:  GM, Ford, Chrysler Post Sales Declines |
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Date Posted: 19:28:10 01/05/04 Mon
Posted on Mon, Jan. 05, 2004
GM, Ford, Chrysler Post Sales Declines
JOHN PORRETTO
Associated Press
DETROIT - General Motors Corp. fell short in its bid to increase U.S. market share for a third straight year as the world's largest automaker, along with Detroit rivals Ford Motor Corp. and DaimlerChrysler AG's Chrysler Group, saw sales decline in 2003.
At the same time, some foreign automakers posted record results for the year, including Toyota Motor Corp., Honda Motor Co. and BMW Group. A variety of new vehicles helped several foreign brands expand their stake in the U.S. market in 2003, but analysts say an upcoming product offensive by Detroit's Big Three could make such gains more difficult this year.
GM, which will launch 13 all-new models in 2004, said Monday its sales fell 9.5 percent in December from the same period a year ago, when it poured on consumer incentives to meet year-end market-share targets and sparked extraordinarily high volume. Such a decline in sales last month was not unexpected among analysts.
For the year, GM sales were down 2.4 percent, though it set an industry sales record for trucks. In an interview Monday during media preview days at the North American International Auto Show, GM chairman Rick Wagoner said the industry as a whole rebounded well from sluggish sales in the first half of 2003.
"That gives both the industry and us a good base to run into this year," Wagoner said. "What I don't want to do is what we did last year, which, I hate to say, was kind of fall asleep in the first quarter and you get yourself in a big hole."
Toyota's American arm said its 2003 sales rose 6.3 percent to more than 1.8 million vehicles - the company's best performance in its 46-year history. For the second year in a row and the sixth time in the past seven years, Toyota's Camry was America's best-selling vehicle.
"Industry sales will continue to grow in 2004, spurred by a healthy economy and steady growth in consumer confidence," said Jim Press, executive vice president of Toyota's U.S. operations.
American Honda's sales, including the luxury Acura division, rose 8.2 percent in 2003 on record sales. While sales of Honda's Accord were flat for the year, the automaker got a big boost from two car-based vehicles known as crossovers - the Honda Element and Pilot.
Ford, the world's second-largest automaker, said sales of Ford, Lincoln and Mercury brand cars were off nearly 21 percent last month, while truck sales - despite strong demand for the redesigned F-150 pickup - fell 2.7 percent. The outcome was an 8 percent decrease.
For the year, Ford's sales were down 4.6 percent from a year ago.
"Although overall sales were lower, we're improving margins in North America by focusing on retail business and selling a richer product mix," said Jim O'Connor, who heads Ford's North American marketing, sales and service division. "We'll continue with that strategy in 2004."
Ford hopes to attract more car buyers with several new vehicles scheduled for showrooms this year, including a new version of the Mustang. Its revamped F-150 pickup, introduced in September, continues to post strong sales and on Sunday was named North American Truck of the Year by reporters at the North American International Auto Show.
At Chrysler, car sales were down 16 percent in December, but a 6.4 percent increase on the truck side helped propel the automaker to an overall sales increase of 2 percent for the month.
Chrysler's 2003 U.S. sales fell 3.5 percent from a year ago.
Like Ford, it also plans to introduce a wave of new vehicles this year that the company hopes will improve sales and market share over 2003.
"We gained tremendous momentum in the second half of 2003 with sales of the 2004 Chrysler Pacifica and the all-new 2004 Dodge Durango," said Gary Dilts, Chrysler's senior vice president for sales.
In late trading Monday on the New York Stock Exchange, General Motors shares were up 77 cents to $54.41, Ford was up 50 cents to $16.58 and DaimlerChrysler's U.S. shares were up $1.22 to $47.96.
ON THE NET
Ford Motor Co., http://www.ford.com/
DaimlerChrysler AG, http://www.daimlerchrysler.com
General Motors Corp., http://www.gm.com/
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