Ford (F) this morning announced a decrease of 7.3% in US auto sales for March, beating projections for an 8.25% decline.
Fiat-Chrysler sales were down 5% with the Jeep brand taking a hit last month.
The compelling footnote in GM's relative victory on Monday was that it didn't come from truck sales.
GM has a 1-year high price of $38.55 and 1-year low price of $27.34.
Vehicle sales have reached all-time highs in recent years, but companies are offering more cash, incentives, and low-interest loans to draw in buyers. Honda's sales also were off, by 2 percent. The pros were calling for Ford's sales to plunge 5.9%, and the company couldn't even do that - Ford sold 7.2% fewer automobiles than it did in March of 2016. "We continue to drive innovation in SUV design and technology, and look forward to the capable and adaptable all-new 2018 Ford Expedition, which goes on sale this fall". Total fleet sales were down 3 percent. They expect $1.49 earnings per share, up 18.25% or $0.23 from last year's $1.26 per share.
But investors seem excited about Tesla's upcoming Model 3 vehicle, which could help make Tesla a more mainstream auto company instead of just a luxury electric vehicle maker. General Motors Company (NYSE:GM) distance from 20 day simple moving average is -2.11% whereas its distance from 50 day simple moving average is -2.52% along with 7.62% distance from 200 day simple moving average.
"Trucks and SUVs, although they did well, it's still hard to make up the lack of auto sales", said Jessica Caldwell, executive director of industry analysis for the Edmunds.com car-buying website. Overall, the Dodge brand saw a sales increase of 10 percent, while the Ram brand was up six percent. The March sales offered the market a glimpse of the overall health of middle-class American consumers. Silverado sales declined 11.6%.
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General Motors reported a 2 percent increase in March retail sales to 256,224 units, with its market share rising an estimated 0.4 percentage points to 15.9 percent. Cacti Asset Management LLC's holdings in Ford Motor Company were worth $292,000 as of its most recent filing with the SEC.
United States automakers are sliding on Monday after reporting weaker than expected March sales numbers.
Forecasted sales growth in March could help the industry overtake the pace set at the same time previous year, according to Deirdre Borrego, senior vice president of automotive data and analytics at J.D. Power. General Motors (GM) inched up about 1.5%, while Ford (F) fell 4.0% during the quarter. General Motors, Nissan and Volkswagen sales rose due largely to SUV sales as most major automakers reported March sales figures on Monday. Sales of sport-utility vehicles, crossovers and pickup trucks increased 5.5% to 117,521, reflecting a record March. The company's Expedition jumped 43 percent with 5,472 SUVs sold whereas Lincoln retail sales grew 5 percent.
The combined Honda and Acura total vehicle sales for March were down from the previous year, but the Civic remained the best-selling retail passenger auto in America for 2017's first quarter.
Ford revealed on Monday that it had sold 236,250 vehicles in March, almost 10x the number sold by Tesla.
Sales for the month fell 1.6 percent to just over 1.55 million vehicles, surprising analysts who expected a small increase. "We're also seeing an increase in loan terms and indications of a rise in subprime lending, which demonstrate sales aren't coming as easily as they used to".