NEW YORK (CNNMoney.com) -- Ford Motor and General Motors both posted big increases in U.S. sales in March compared to a year ago, but the improvement was less than had been hoped for by analysts earlier in the month.
The results show the continued softness in auto sales beyond the well-publicized recall problems at Toyota Motor (TM). While the industry is likely to report a double-digit percentage rise in sales for March, the comparison is to a very weak period a year ago.
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Much of the gains at Ford and GM came from fleet sales to businesses, such as rental car companies, rather than improvement in more profitable sales to consumers.
Overall sales at Ford (F, Fortune 500) rose 40%, while sales tracker Edmunds.com had originally forecast that it would post a 55% increase. GM sales reported a 21% rise in sales, less than Edmunds' forecast of a 27% improvement.
Both automakers said they were pleased by the results, though. Both also indicated that they thought their market share rose in March.
GM reported better results for the four brands that it still has in its U.S. lineup -- Chevrolet, Buick, Cadillac and GMC. Those brands together posted a 43% rise in sales. But sales of the four brands GM is dropping -- Pontiac, Saturn, Hummer and Saab -- tumbled 88%.
Similarly, Ford sales rose 43% when limited to the Ford, Lincoln and Mercury brands it still owns. Ford completed the sale of its Volvo brand to Chinese automaker Geely on Sunday. Volvo sales fell 18% in March.
Year-over-year comparisons at GM are also difficult because the future of the company was very much in doubt in March 2009. It wasn't until the end of that month that President Obama announced the federal government would provide the bailout GM would need to stay in business.
Other automakers are due to report results later in the day and much of the attention is likely to focus on Toyota Motor, which said earlier this week that its sales would be up more than 35%.
The Japanese automaker, which has been battered by recall problems much of this year, won back some buyers through aggressive incentive offers.
The results show the continued softness in auto sales beyond the well-publicized recall problems at Toyota Motor (TM). While the industry is likely to report a double-digit percentage rise in sales for March, the comparison is to a very weak period a year ago.
Facebook Digg Twitter Buzz Up! Email Print Comment on this story
Much of the gains at Ford and GM came from fleet sales to businesses, such as rental car companies, rather than improvement in more profitable sales to consumers.
Overall sales at Ford (F, Fortune 500) rose 40%, while sales tracker Edmunds.com had originally forecast that it would post a 55% increase. GM sales reported a 21% rise in sales, less than Edmunds' forecast of a 27% improvement.
Both automakers said they were pleased by the results, though. Both also indicated that they thought their market share rose in March.
GM reported better results for the four brands that it still has in its U.S. lineup -- Chevrolet, Buick, Cadillac and GMC. Those brands together posted a 43% rise in sales. But sales of the four brands GM is dropping -- Pontiac, Saturn, Hummer and Saab -- tumbled 88%.
Similarly, Ford sales rose 43% when limited to the Ford, Lincoln and Mercury brands it still owns. Ford completed the sale of its Volvo brand to Chinese automaker Geely on Sunday. Volvo sales fell 18% in March.
Year-over-year comparisons at GM are also difficult because the future of the company was very much in doubt in March 2009. It wasn't until the end of that month that President Obama announced the federal government would provide the bailout GM would need to stay in business.
Other automakers are due to report results later in the day and much of the attention is likely to focus on Toyota Motor, which said earlier this week that its sales would be up more than 35%.
The Japanese automaker, which has been battered by recall problems much of this year, won back some buyers through aggressive incentive offers.
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