Ford Motor Co. (F) and Chrysler Group LLC on Wednesday reported higher U.S. vehicle sales for the month of January, driven by strong demand of smaller, fuel-efficient vehicles, while General Motors Co. (GM) reported a decline due to falling demand for crossovers and trucks.
GM, the largest U.S. automaker, said that its total vehicle sales in the United State fell 6.1% to167,962 units in January from 178,896 units in the same month last year. Retail sales for January dropped 15.4% from a year ago and accounted for 70% of GM sales.
For January, total Chevrolet sales fell 1.2% to 123,864 units, while total GMC sales slipped 9.7% to 24,966 units and total Buick sales dropped 23.1% to 10,208 units. Total Cadillac sales dipped 29.1% to 8,924 units.
Ford, the second largest U.S. Automaker, said that its January U.S. sale rose 7.4% from last year, driven by strong demand for smaller vehicles.
The Dearborn, Michigan-based automaker said it sold 136,710 vehicles in the U.S. in January, an increase of 7.4% from 127,317 vehicles sold in the same month last year. For December, Ford had reported a 10% increase in U.S. vehicles sales.
Ford's car sales grew 2.4% to 41,885 units in January from 40,905 units a year ago, while truck sales rose 7.9% to 52,892 units from 49,041 units last year. Utility vehicle sales surged 12.2% to 41,933 units from 37,371 units a year earlier.
"January started off with solid sales versus year-ago levels," said Ken Czubay, Ford vice president, U.S. Marketing, Sales and Service. "Ford saw the same solid month, with smaller vehicles in higher demand. Escape continued its record-setting run, and Focus set the pace for car sales in California, Texas and the Southeast."
Sales of Ford brand vehicles increased 8.3% to 131,589 units, making it the best January sales month for the Ford brand since 2008, while sales of Lincoln brand vehicles fell 7.9% to 5,121 units. There were no sales for Mercury brand vehicles this month, as Ford ended production of Mercury vehicles in the fourth quarter of 2010, due to declining sales.
January sales of Ford's small car Focus jumped 59.8% to 14,400 vehicles, and contributed to 30% of the company's sales growth for the month, more than any other vehicle in the Ford product lineup.
Among the utilities, Ford Escape sales rose 23.5% to 17,2594 units in January, while Ford Explorer sales surged 35.6% to 9,966 units.
Sales of Ford's F-Series truck, America's best-selling truck for 35 years in a row and America's best-selling vehicle, car or truck, for 30 straight years, increased 7.5% to 38,493 units in January from 35,806 units in the same month last year.
Ford was less ravaged by the recession than most of its peers. The company also did not have to restructure with federal assistance. The automaker has reported a profit for each of its last eleven quarters. The company has also reinstated its quarterly stock dividend.
Late last month, Ford Motor Co. (F) reported a sharp rise in fourth quarter profit,, boosted by a hefty one-time tax gain and higher revenues. The company's fourth quarter revenues rose 6.5% to $34.6 billion from $32.5 billion a year earlier.
Among other automakers reporting U.S. vehicle sales Wednesday, Chrysler Group LLC, which is majority owned by Italy-based Fiat SpA (FIATY.PK), said its U.S. sales for the month of January rose 44% to 101,149 vehicles from 70,118 vehicles in the same month last year. The growth was driven in large part by strong sales of its sedans: the Chrysler 300 flagship sedan, Chrysler 200 mid-size sedan, and Dodge Charger and Avenger sport sedans.
Chrysler's total car sales for the month jumped 137% year-over-year to 28,832 units, while total truck sales increased 25% to 72,317 units.
Nissan North America Inc., a unit of Nissan Motor Co. Ltd. (NSANY.PK), reported January U.S. sales of 79,313 units, up 10.4% from 71,847 units a year earlier. Total car sales grew 5.8% to 51,262 units, while total truck sales rose 19.9% to 28,051 units. Nissan Division sales for the month were 72,517 units, up 12.5% from 64,442 units in the same month last year. Sales of Infiniti vehicles decreased 8.2% from the prior year to 6,796 units.
GM shares are currently trading at $24.47, up 44 cents or 1.85%, while Ford shares are trading at $12.36, down 6 cents.
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