Ford, General Motors January Sales Rise As Toyota Falls (F, TM)
February 02, 2010 2:07 PM
Today, auto sales figures released today for the month of January reveal a promising sign for domestic automakers - and a troubling sign for the market leader.
Both Ford (NYSE: F) and General Motors saw sales rise in the month of January compared to one year ago. Ford reported a 35% increase in sales compared to January, 2009, with a corresponding increase in market share to 16% from 14% at the beginning of 2009.
General Motors also reported good news, showing an increase of 22% on January sales from a year ago.
Meanwhile, Toyota (NYSE: TM) reported negative sales figures for the month of January. Sales from the leading Japanese automaker dropped 8.7% from a year ago, likely stemming from two costly recalls in November of 2009 and last month. The resulting malaise and growing disaffection with the company indicates that the quarter will in all likelihood end on a disappointing note. Analysts are predicting Toyota to lose market share for the month of February, as much as 2-3%.
