Auto Sales Maintain Sizzling Pace in April

Strategic Insights -

In a continuing sign of consumer confidence, auto sales in April maintained a robust pace, with major automakers such as Ford, DaimlerChrysler, Toyota, Honda, and Nissan reporting strong sales. The industry as a whole is on track to match or beat last year's sales pace, with Ford's sales rising 6.6 percent to 345,672 vehicles. Other notable sales figures include DaimlerChrysler's Chrysler unit sales increasing 2 percent, Honda's sales reaching a record 90,352, and Toyota's sales rising 9.6 percent to 118,833.

Key Takeaways:

  • Ford's sales rose 6.6 percent in April to 345,672 vehicles, with car sales falling 1 percent and sales of sport utility vehicles, minivans, and pickup trucks rising 7.8 percent.
  • DaimlerChrysler's Chrysler unit sales rose 2 percent to 225,195, with car sales increasing 5.9 percent and truck sales edging up four-tenths of 1 percent to record levels.
  • Honda's sales rose 4 percent to 90,352, with car sales falling 3.1 percent but offset by a 52.9 percent rise in truck sales.
  • Toyota's sales rose 9.6 percent to 118,833, with Nissan sales increasing 21.5 percent to 47,243.
  • The General Motors Corporation is expected to report a 3 percent drop in sales, despite efforts to boost sales with discounts.
  • Industry economists have raised their sales forecasts, with DaimlerChrysler's W. Van Bussmann predicting 15.6 million cars and trucks will be sold this year, up from an initial estimate of 14.8 million.
  • Economists at Ford and General Motors have also increased their estimates, with Ford boosting its forecast to 15.6 million and GM predicting 15.3-15.9 million cars and light trucks will be sold.

Statistics:

  • Ford's sales rose 6.6 percent in April to 345,672 vehicles.
  • DaimlerChrysler's Chrysler unit sales rose 2 percent to 225,195.
  • Honda's sales rose 4 percent to 90,352.
  • Toyota's sales rose 9.6 percent to 118,833.
  • Nissan's sales rose 21.5 percent to 47,243.
  • Industry economists now predict 15.6 million cars and trucks will be sold this year (up from 14.8 million).
  • Industry sales in the first quarter reached an annual pace of 16.6 million (up from 14.9 million in the first quarter of last year).

Sources:

  • Ford Motor Company
  • DaimlerChrysler A.G.
  • Toyota
  • Honda
  • Nissan
  • J. P. Morgan Securities Inc.
  • The Wall Street Journal
  • DaimlerChrysler Corporation
  • Ford Motor Company
  • General Motors Corporation