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4/2/13, "SUVs, trucks boost March auto sales; GM falls short," Reuters, Ben Klayman and Deepa Seetharaman
"Ford Motor Co. and Chrysler Group LLC reported on Tuesday
slightly better-than-expected U.S. auto sales in March, buoyed by
greater demand for sport utility vehicles and pickup trucks, while
General Motors Co. fell short of estimates.
March is expected to be the fifth
consecutive month that the industry's annual sales pace has held above
15 million vehicles, a sign that rising home values are helping American
consumers feel more confident about buying a new vehicle.
Industry officials also have cited
the all-time high average age of cars on the road - more than 11 years -
as a major reason for strong demand, as consumers can no longer put off
buying a replacement. Several analysts have raised their full-year
sales forecasts in the last week.
Ford, the No. 2 U.S. automaker, said
March was its best month since May 2007. For Chrysler, the No. 3
automaker, it was the best month since December 2007.
But GM's results fell short of the
estimates of at least three analysts. The largest U.S. automaker sold
245,950 cars and trucks in March, up 6.4 percent from a year earlier.
All three U.S. automakers said sales
of larger vehicles outpaced their overall gains. Ford posted a 5.7
percent overall sales rise, a 15.4 percent spike in SUVs, such as the
Escape crossover, and a 16.3 percent increase in sales of F-Series
pickup trucks.
GM said crossover sales were up 31
percent. Sales of pickup trucks that are slowly being phased out rose 6
percent. GM is launching two new truck models later this year, the 2014
Chevrolet Silverado and GMC Sierra."...
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