Ford (F) Sales Up, General Motors’ (GM) Down in January
Fresh off their best sales year since 2008, U.S. auto makers posted mixed results in the first month of 2012.
Ford Motor (NYSE: F), the largest publicly traded automaker by market capitalization, saw its U.S. sales increase 7.3% in January. General Motors (NYSE: GM), the second-largest publicly traded U.S. auto maker, reported a 6% decline in January sales from a year ago in part because of the deep discounts the company offered last month.
Despite GM’s year-over-year sale drop-off, its stock is up 1.9% in mid-day trading today. Ford’s stock, meanwhile, is up only 0.9% after its improved sales.
GM’s stock is likely benefitting from the good news about the auto industry as a whole today. New-vehicle sales surged in the U.S. last month.
No automaker performed better than Chrysler, which is not a publicly traded company. Chrysler’s January sales improved 44% from the same month a year ago. Ironically, booming sales at the one privately-held auto maker among America’s “Big Three” are largely responsible for boosting GM’s publicly traded stock.
GM was the lone major U.S. auto maker to report a year-over-year sales decline last month. Slower sales of its big pickup trucks – Chevy Silverado sales were down 4.7%, GMC Sierra sales dropped 10.4% -- were partly responsible for the decline. Cadillac sales were also down 29% from a year ago.
Ford, meanwhile, grew its sales thanks in part to increased interest in its Focus compact car. Overall, Ford expects sales growth of between 2% and 3% in the current quarter.
