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Business Title: Ford Beats GM in Monthly U.S. Sales for First Time Since 1998, Posted a 43 Percent Surge in U.S. Sales in February March 02, 2010, 12:10 PM EST March 2 (Bloomberg) -- Ford Motor Co. posted a 43 percent surge in U.S. sales in February, beating General Motors Co. in monthly deliveries for the first time since 1998. Ford’s tally was 142,285 compared with 141,951 for Detroit- based GM, the automakers said today. Ford said it hadn’t topped GM in domestic sales since a union walkout idled the biggest U.S. automaker almost 12 years ago. The last time before then was during a strike in 1970, based on Ford sales data. “This is huge because it’s the classic rivalry like Pepsi and Coke, the Red Sox and the Yankees,” said John Wolkonowicz, an analyst at IHS Global Insight. “This is the real thing. They’re doing it with the stuff that matters -- quality, products and reputation. It could be a turning point.” Ford exceeded analysts’ projections of a 33 percent advance, based on the average of 5 estimates, for a month in which snowstorms damped U.S. showroom traffic. Chief Executive Officer Alan Mulally has been working to cut costs and develop new vehicles and kept Ford out of bankruptcy last year. Industry volumes also were hampered by the Toyota Motor Corp. recalls that temporarily halted sales of some models. Automakers had easy comparisons with February 2009, when the recession sent sales tumbling to the lowest levels in 27 years. “Possibly the entire market could be softer than what people thought,” said Michael Robinet, chief forecaster for CSM Worldwide Inc. in Northville, Michigan. “The weather may have had a deep impact. When you are buried in snow, buying a car is not top of mind.” Industry Outlook The seasonally adjusted annual sales rate for cars and light trucks may have reached 10.3 million, the average of 8 estimates compiled by Bloomberg. That would be a fourth straight gain from a year earlier. The February 2009 pace was 9.1 million, the lowest since 1981. Manufacturers, dealers and investors use the annualized rate to compare monthly totals by taking into account seasonal buying patterns. February is typically among the lowest sales months of the year, while June is one of the highest. Annual U.S. sales averaged 16.8 million last decade through 2007. GM deliveries rose 12 percent, trailing the 20 percent average of 5 analysts’ estimates. The results showed the effect of GM’s plans to sell or shut four U.S. brands -- Saab, Hummer, Saturn and Pontiac -- as part of its government-backed bankruptcy last year. Deliveries for those four vehicle lines plunged 86 percent to 3,102, GM said. GM said sales for the four brands it is keeping, Chevrolet, Cadillac, Buick and GMC, rose 32 percent from a year earlier. Volumes more than doubled for the Buick LaCrosse sedan and Chevrolet Equinox sport-utility vehicle. GM Fleet Sales Sales to businesses and government buyers drove GM’s growth. While Chevrolet posted a 32 percent increase, deliveries to dealerships were up only 1 percent, GM said. Chevrolet makes up 70 percent of the company’s U.S. volume. Chrysler Group LLC, based in Auburn Hills, Michigan, probably will post an 18 percent decline, according to the average estimates. Toyota’s sales may have fallen 10 percent, researcher Edmunds.com projected. Tokyo-based Honda Motor Co. may say deliveries rose 24 percent, while Nissan Motor Co., based in Yokohama, Japan, may report a 38 percent gain, Edmunds.com said. Seoul-based Hyundai Motor Co. probably will show a 25 percent increase, according to Edmunds.com. A decline for Toyota would be the second in a row for the world’s largest automaker, which recalled about 8 million vehicles for flaws tied to unintended acceleration and suspended U.S. sales of 8 models, including Camry and Corolla sedans, starting Jan. 26. Dealers resumed sales once repairs were made. Toyota Fallout The U.S. troubles for Toyota City, Japan-based Toyota may have cut as many as 400,000 vehicles from the industry sales rate, Himanshu Patel, a JPMorgan Chase & Co. analyst in New York, wrote in a Feb. 24 note to investors. GM began March with its own quality questions, after saying late yesterday that it’s recalling 1.3 million Chevrolet and Pontiac models to fix power-steering systems. GM said U.S. regulators received more than 1,100 consumer complaints about failures. The models include the Chevrolet Cobalt small car. Snow in the eastern U.S. paralyzed car dealers and other businesses last month in cities such as Washington and Philadelphia, while Dallas had its biggest one-day accumulation in a storm that moved across Texas and the South. February economic data may be disrupted by the storms, making it difficult to gauge the extent of the U.S. recovery. The Conference Board’s consumer confidence index fell to the lowest level in 10 months in February, a sign that Americans may limit spending on concern that the job market remains weak. Shake-Up, Opel GM’s January and February gains marked the first time since 2004 that the automaker began the year with sales increases. A shake-up is on the way in GM’s sales operations, with Chief Executive Officer Ed Whitacre is planning the second personnel shuffle since December, three officials familiar with the plan said. Susan Docherty, vice president for sales, service and marketing, is poised to give up the sales and service portion of her portfolio and retain only marketing, said one of the officials, who asked not to be identified because details aren’t public. The moves would extend Whitacre’s push to overhaul GM since the company exited bankruptcy in July. GM said today its funding to reorganize the money-losing Opel unit in Germany will triple to 1.9 billion euros ($2.6 billion) as the automaker tries to persuade European governments to provide loans and guarantees. --With assistance from Katie Merx and Doron Levin in Southfield, Michigan, and Courtney Schlisserman in Washington. Editors: Ed Dufner, John Lear
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#1. To: Brian S (#0)
(Edited)
GM needs to get the word out that you can get a free navigation system and a 10 year warranty IF you're a helluva a guy. Just tell your local dealer that Boofer sent you...you're in...
Day 9 of Packrat refusing to register here. Day 7 Of Boofer The One Eyed Wonder Bot refusing to answer: When is Blackwell going to have the recount? Jan 30, 2006 ... by saveliberty (Proud to be Head Snowflake, Bushbot...
It's a shame Ford's are shit.
So why do you bother soiling this site with your vacuous and inane commentary? ... yukon haha lots of laughing out loud
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