Most Automakers Report Double-Digit U.S. Sales Gains in March (GM) (F) (TM)
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Auto sales ripped higher in March as consumers got a little more confident in the economic recovery and looked to replace aging rides.
Leading the monthly charge is U.S. sales was Chrysler, which saw sales jump 34 percent to 163,381 vehicles, the highest monthly total in four years. General Motors (NYSE: GM) saw sales move 12 percent higher from 206,621 reported in the same period last year to 231,052. Ford (NYSE: F) sales rose 5 percent to 222,884. Ford's total marked the strongest March in five years.
Toyota (NYSE: TM) reported a 15 percent gain in sales as consumer concerns about "unintended acceleration" issues continued to evaporate. Toyota reported record Prius sales for March, and also said total sales reached over 200,000 for the first time since 2008.
Nissan (OTCBB: NSANY) said sales rose 13 percent to 136,317 vehicles and Subaru had a 20 percent jump in U.S. sales.
Some automakers are still reporting results, meaning an industry total won't be available until later. Analysts at TrueCar.com see March sales up 14 percent to a seasonally adjusted annual rate of 14.5 million vehicles.
While GM and Toyota shares closed lower, Ford shares closed 0.16 percent higher Tuesday afternoon.
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Leading the monthly charge is U.S. sales was Chrysler, which saw sales jump 34 percent to 163,381 vehicles, the highest monthly total in four years. General Motors (NYSE: GM) saw sales move 12 percent higher from 206,621 reported in the same period last year to 231,052. Ford (NYSE: F) sales rose 5 percent to 222,884. Ford's total marked the strongest March in five years.
Toyota (NYSE: TM) reported a 15 percent gain in sales as consumer concerns about "unintended acceleration" issues continued to evaporate. Toyota reported record Prius sales for March, and also said total sales reached over 200,000 for the first time since 2008.
Nissan (OTCBB: NSANY) said sales rose 13 percent to 136,317 vehicles and Subaru had a 20 percent jump in U.S. sales.
Some automakers are still reporting results, meaning an industry total won't be available until later. Analysts at TrueCar.com see March sales up 14 percent to a seasonally adjusted annual rate of 14.5 million vehicles.
While GM and Toyota shares closed lower, Ford shares closed 0.16 percent higher Tuesday afternoon.
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