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Detroit Can't Keep on Truckin'

March auto sales slump. 
Industry:
Automotive
Summary:
The Company is engaged in the development, production and marketing of cars, trucks & parts. It develops, manufactures & …
Primary executive:
G. Richard Wagoner, Jr.,
Industry:
Automotive
Summary:
The Company is engaged in the design, manufacture, and sale of sedans, compact cars, sport-utility vehicles, trucks & related …
Primary executive:
Fujio Cho,
Industry:
Automotive
Summary:
The Company develops, produces and manufactures a variety of motor products, ranging from small general-purpose engines to specialty sports cars.
Primary executive:
Takeo Fukui,
Industry:
Automotive
Summary:
The company is a producer of cars and trucks combined. Its business is divided into two sectors: Automotive and Financial Services.
Primary executive:
Alan Mulally,
If the dismal results produced by automakers in March have made one thing clear, it's that trucks and sport-utility vehicles are out of favor in a big way.

Ford Motor's U.S. sales fell 14 percent in March, while General Motors had a 19 percent drop for the month. Toyota Motor, the global No. 1 in sales, was down 10 percent. Honda Motor came out the winner, with a mere 3 percent drop in sales.

Across the board, most of the pain was concentrated in the S.U.V. and truck divisions. Those categories have been steadily losing ground, hurt by high gas prices and the slowdown in the construction industry.

Ford's truck and S.U.V. sales decreased by 17 percent from a year earlier, as G.M.'s business slowed 22 percent. Toyota and Honda had slightly more modest losses of 14 percent and 12 percent, respectively.

For Ford, the most painful blow was a 24 percent slide in sales of the perennially popular F-Series pickups, the nation's top-selling line of vehicles.

G.M.'s gas-guzzling Hummer weighed the automaker down with a 29 percent decrease in sales. Honda's sales shortfall was led by the Pilot S.U.V., which saw sales fall 24 percent. Toyota S.U.V. sales as a whole fell 20 percent.

Small cars fared best as consumers focused on fuel-efficiency. Ford Focus sales jumped 24 percent for the month, while sales of the Edge, a crossover in size between a car and an S.U.V., rose 35 percent.

Toyota's subcompact Yaris benefited from an 83 percent sales increase, and Honda's Fit subcompact saw a 74 percent uptick.

Car sales overall, while slightly better, were nothing to write home about. Honda managed to squeeze out a 3 percent increase in sales, while Ford saw a 9 percent loss; G.M., a 14 percent loss; and Toyota, a 7 percent slowdown in the month of March.

On the bright side, one of Ford's six divisions did manage a sales gain for the month.

The star performer? Jaguar, which Ford agreed to sell last month to Tata Motors of India.



 
 

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