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Major U.S. automakers continue to post sharp sales drops
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Major U.S. automakers continue to post sharp sales drops
« Jan 05, 2009    05:04:17 PM »
Major U.S. automakers continued their dismal sales performance in December, with General Motors Corp. (GM:  News ), Ford Motor Co. (F:  News ) and Toyota Motor Corp. (TM:  News ) reporting more than 30% sales declines for the month, hurt by tight credit conditions and a historically low level of consumer confidence amid an economic downturn.

GM said its dealers in the United States delivered 221,983 vehicles in December, down 31.4% from 323,453 delivered in December 2007.

GM's car sales fell 24.9% to 87,506 units in December, while truck sales dropped 35% to 134,477 units.

Mark LaNeve, vice president, GM North America Vehicle Sales, Service and Marketing, said limited 0% financing offers in conjunction with its financial services arm GMAC and other incentives had helped push the automaker's sales up from depressed November levels.

"Given the ongoing challenges and the difficult market environment, we were very encouraged to see a volume rebound for GM in December compared with both October and November," said LaNeve.

Last month, GMAC won approval to operate as a bank holding company from federal regulators and also won a $6 billion bailout of its own


Source: http://www.rttnews.com/ArticleView.aspx?Id=815813
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