Chrysler sales soar during past month
DETROIT (AP) – DaimlerChrysler AG’s Chrysler Group saw both its car and truck sales jump 18 percent last month, while Ford Motor Co. had a modest gain and General Motors Corp. saw a double-digit sales decline, the automakers said Tuesday. Many analysts had forecast that domestic auto sales last month would be slightly higher than September 2001, when the terrorist attacks rattled the economy, but down considerably from the past few months as dealers sell their remaining incentive-laden, 2002 vehicles.
Chrysler attributed its growth to incentive packages that have been the trademark of the industry this summer. Automakers have battled for customers with zero-percent financing, rebates and others offers, providing a boost to U.S. auto sales during a generally weak economy.
Chrysler sold 39,984 cars last month, up 17.6 percent from September 2001. Truck sales, led by the Dodge Ram, jumped 18.3 percent to 125,413.
Percentages are based on the daily sales rate. September 2001 had 25 selling days, two more than last month.
“With new 2003 models such as the Ram Heavy Duty and Chrysler PT Turbo arriving at our dealerships, we’re optimistic that we’re on track for more good news in the fourth quarter,” said Gary Dilts, Chrysler’s senior vice president for sales.
Ford’s car sales, excluding its luxury brands, were at 87,412 in September, down 5.8 percent from the year-ago period. Truck sales were up 5.6 percent year-over-year at 176,217.
Together, factoring in the two fewer sales days last month, Ford saw an overall increase of 1.5 percent.
A bright spot for the Dearborn-based automaker was its luxury brands – Lincoln, Jaguar, Volvo and Land Rover – all of which had higher sales last month than September 2001, a first for the company.
At the same time, the Ford Focus and Ford Explorer had record sales last month.
Ford officials said they were encouraged by their improving U.S. market share trend, which they estimated to be at about 22 percent in September.
GM, meanwhile, said its September sales were softer than expected, off an overall 12.7 percent.
The world’s largest automaker sold 136,393 cars for the month, down 17.4 percent from the same month last year. Trucks fared a little better, off 8.5 percent, with total sales of 171,147 last month.
“When you consider our exceptional sales performance in July and August, lean inventories and the competitive environment, we expected there would be some weakening in September sales,” said Bill Lovejoy, GM’s group vice president for North American vehicle sales, service and marketing.
In trading Tuesday, DaimlerChrysler’s U.S. shares were up $2.84, more than 8 percent, to $36.35 each on the New York Stock Exchange. Ford shares gained 10 cents to $9.90 each. GM shares were up $1.74 to $40.64.
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On the Net:
DaimlerChrysler AG, http://www.daimlerchrysler.com
Chrysler Group, http://www.chrysler.com
Ford Motor Co., http://www.ford.com
General Motors Corp., http://www.gm.com