Rise in US car sales lead by Chrysler and GM

In the month of January, the overall sales of US car directly jumped by around 18 per cent, the whole profit led by gains especially for Chrysler and General Motors Co. Both, these leading auto makers are considered as the two well – known Detroit car manufacturers that are restructured by the authorized US government.
Government took large number of shares from its rivals. The 2011 year is like a strong starts for all major car manufacturers which are located outside the US. In the markets of develop – engine like India, demand is comparatively slow.
On the other hand, in the developed European markets, recovery is bumpy. Earlier Toyota Motor co experienced high pressure due to its continuous series of punishing recalls which are now tarnished their reputation in the wide automobile market.
This year company gains around 17 per cent growth is net profit. Hence, large number of vehicle market analysts already forecast about in the net profit sales. During the year 2010, Toyota Motor Co is the only single car maker which has lost sales in the vehicle market of United States.
The spokesperson of this company said that this cut down is sales was already marked when Toyota set up several operations in US market of automotives in the late 1950s. Rebecca Lindland, analyst of IHS Automotive said that the long – term outlook of Toyota has been quite dimmed and hence, it’s not growing more brightly.
As we all know, General Motors is the second – global vehicle manufacturer behind Toyota which noted 22 per cent growth in sales powered by sales of strong truck.
As a result of high truck sales, the market share of this company above 20 per cent. Chrysler is pushing their limits towards the earlier public which are providing of stock during the second half of the year 2011. in this period, company had more than 23 per cent gain in sales.
source : prefercars.com

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US car sales October 2008 slump to 25-year low

American car sales hit a 25-year-low in October as consumers stopped spending money on new vehicles – and the industry’s fortunes are predicted to only get worse.

The biggest victim was General Motors, whose sales for the month slid by a staggering 45pc, the largest fall among the mass manufacturers.

Only Porsche, the niche luxury marque, managed to out-slump GM, with sales off by 50pc last month.

Other brands to be hit included Nissan, down 33pc, and Mercedes-Benz 25pc lower.

The overall picture was a gloomy one with the lowest monthly sales level since 1983 compounding an already weak outlook for the industry, which is attempting to reconfigure itself to meet consumer demands for smaller, more fuel-efficient vehicles.

GM, which is in the midst of merger talks with smaller rival Chrysler, delivered just 170,585 vehicles in October, but said that its production forecast remain unchanged at 875,000 for the current three months to December 31.

“It was like someone turned off the lights in the month of October,” said GM’s head of North American sales Mark LaNeve.

Rival Ford saw sales fall by 30.2pc. Ford economist Emily Kolinski Morris commented: “The financial crisis has generated an abrupt constraint on economic activity,” adding that the company does not believe that the third-quarter represented the bottom of the downturn.

As opposed to GM, which is not cutting production, Ford said it could look at reducing production of cars by reducing overtime and hours at certain plants.

Separately, GM announced it has sold its reinsurance business to Maiden Holdings to bolster capital and add to its liquidity. Terms were not disclosed, but Maiden said it planned to raise $260m from a share issue to help fund the deal.