Ford US auto sales rise 3 percent in October
DETROIT (AP) - Strong demand for cars and crossovers lifted
Ford's U.S. sales 3 percent in October, a positive sign for
automakers who are hoping a healthier economy will draw buyers back
to showrooms.
Ford said its sales rose 21 percent from September, when auto
sales were still in a hangover after the Cash for Clunkers program
boosted sales this summer. Automakers had said October would be a
test of how strong the market is without any effect from clunkers.
Ford's overall car sales rose 11 percent over last October,
while crossovers climbed 23 percent, Ford Motor Co. said Tuesday.
Truck sales fell 10 percent. New products like the Ford Taurus
sedan and Lincoln MKT crossover sold well. More than 80 percent of
last month's sales came from new 2010 models.
NYSE:F Updated: 16:00 ET 8.81 +0.08 |
Other OTC:MTLQQ Updated: 15:59 ET 0.651 -0.018 |
Fuel-efficient models like the Ford Fusion sedan and Escape
small sport utility vehicle also flew off showroom floors, which
both notching sales jumps of around 25 percent.
Ford said it marked the 12th time in 13 months that its U.S.
market share rose as it continues to grab buyers from competitors.
Ford has been benefiting from consumer goodwill because it didn't
take government bailout money or go into bankruptcy, as General
Motors Corp. and Chrysler LLC did.
It was more good news for Ford, which said Monday it made nearly
$1 billion in the third quarter. Ford's North American division
also reported its first profitable quarter four years.
Ford shares fell 3 cents to $7.55 in midday trading on the New
York Stock Exchange.
Other automakers were scheduled to report results later Tuesday.
11/03/09 12:50
© Copyright The Associated Press. All rights reserved. The information contained In this news report may not be published, broadcast or otherwise distributed without the prior written authority of The Associated Press.
