March Auto Sales Set to Post First Drop in 7 Months (F) (GM)
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Rating Summary:
25 Buy, 13 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Automobile sales in the U.S. likely fell for the first time in seven months during March, following the Japan crisis and rising gas prices damaging consumer confidence.
According to data complied by Bloomberg, March auto sales fell to an annual rate of 12.9 million based on a survey of analysts. The results sets up for an improvement from a year ago, but down from the annual rate of 13.4 million rate in February.
The conflict in Libya has pushed gas price to the highest level since September 2008, which has slowed the sales of Trucks and sport-utility vehicles.
General Motors Co. (NYSE: GM) is expected by analyst to report a gain of 20 percent in March deliveries.
Ford Motor Co. (NYSE: F) is tracking to report a 13 percent increase according to analysts, as the company has seen sales of small cars surge amid higher gas prices. Ford may surpass GM, which offered smaller discounts n March.
Toyota Motor Corp. (NYSE: TM) may be the only major automaker to report a drop in sales from last year, following a slowdown in production following the earthquake and Tsunami that ravaged Japan this month.
Shares of U.S. automakers have been on a decline in the last six weeks. GM Shares are down 14 percent since February 18, while Ford has dropped 5.8 percent in that span.
According to data complied by Bloomberg, March auto sales fell to an annual rate of 12.9 million based on a survey of analysts. The results sets up for an improvement from a year ago, but down from the annual rate of 13.4 million rate in February.
The conflict in Libya has pushed gas price to the highest level since September 2008, which has slowed the sales of Trucks and sport-utility vehicles.
General Motors Co. (NYSE: GM) is expected by analyst to report a gain of 20 percent in March deliveries.
Ford Motor Co. (NYSE: F) is tracking to report a 13 percent increase according to analysts, as the company has seen sales of small cars surge amid higher gas prices. Ford may surpass GM, which offered smaller discounts n March.
Toyota Motor Corp. (NYSE: TM) may be the only major automaker to report a drop in sales from last year, following a slowdown in production following the earthquake and Tsunami that ravaged Japan this month.
Shares of U.S. automakers have been on a decline in the last six weeks. GM Shares are down 14 percent since February 18, while Ford has dropped 5.8 percent in that span.
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