04-02-2005, 05:54 PM
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GreenHybrid Founder
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Real Name: Jason Siegel
Location: Houston, TX
Hybrids: 2004 Toyota Prius
Posts: 4,487
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Fuel price rises hit SUV sales and lift hybrids
Quote:
Soaring fuel prices contributed to a sharp drop in sales of large and mid-sized sport-utility vehicles in the US last month, casting a shadow over General Motors and Ford, which dominate the sector.
Nevertheless, the two Detroit carmakers offset the slide in SUVs with gains in other vehicle segments. Sales of hybrid petrol-electric vehicles rose markedly. GM, facing a downgrade of its debt to junk status after a dramatic profits warning last month, exceeded many analysts' forecasts, with total sales edging down by 1 per cent both from March 2004 and from February, adjusted for the difference in selling days. Ford's sales were 1.7 per cent lower than a year earlier.
But GM and Ford continue to lose market share to their Asian rivals. The three big Japanese carmakers, Toyota, Honda and Nissan, all reported double-digit sales increases in March. Toyota hit a monthly record while Nissan's US sales exceeded 100,000 vehicles for the first time.
The third Detroit-based carmaker, DaimlerChrysler's Chrysler division, posted its 12th consecutive month of year-on-year gains with a 7.6 per cent growth in sales.
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- http://news.ft.com/cms/s/b0a9c08a-a3...00e2511c8.html
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