Ford (F), GM (GM) Shares Sink as Toyota's (TM) Monthly US Sales Top 200K for First Time Since 2008
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Ford (NYSE: F) and GM (NYSE: GM) shares have pulled back sharply in morning trade Tuesday as a Toyota (NYSE: TM) exec just appeared on CNBC with March sales results.
Although Toyota saw auto sales rise a worse-than-expected 15.4 percent during the month, investors in Ford and GM may be hanging onto one concerning comment: Toyota's US sales moved over the 200,000 unit level for the first time since 2008.
Ford reported a 5 percent rise in auto sales during last month; GM's US sales were up 11.8 percent, worse than an analyst estimate of 19 percent.
After trading up as much as 2.6 percent earlier, shares of Ford are now up just 0.5 percent to $12.68. GM shares are continuing lower, now down 3.1 percent to $25.94. Toyota shares are down 0.2 percent to $86.52 this morning.
Although Toyota saw auto sales rise a worse-than-expected 15.4 percent during the month, investors in Ford and GM may be hanging onto one concerning comment: Toyota's US sales moved over the 200,000 unit level for the first time since 2008.
Ford reported a 5 percent rise in auto sales during last month; GM's US sales were up 11.8 percent, worse than an analyst estimate of 19 percent.
After trading up as much as 2.6 percent earlier, shares of Ford are now up just 0.5 percent to $12.68. GM shares are continuing lower, now down 3.1 percent to $25.94. Toyota shares are down 0.2 percent to $86.52 this morning.
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