GM joins Toyota missing U.S. sales estimates as jobs falter

Market Share

Toyota may gain almost 1 percentage point of U.S. market share this year and retain third place behind GM and Ford, analysts estimated in January. In the first three months of this year, Toyota sold the most cars and trucks in the world.

Chrysler’s national promotion offering some buyers no monthly payments for 90 days ran during the last 10 days of May, according to the company’s website.

“The Japanese competitors are now back fully in the marketplace,” Sergio Marchionne, chief executive officer of Chrysler and its majority owner Fiat SpA, told reporters on May 24. “It’s something that we have not had to deal with, effectively, over the last 12 months.”

Cruze Falters

GM, the No. 1 automaker by U.S. sales, said deliveries of the Cruze compact slipped 14 percent to 19,613. The Detroit- based automaker shuffled its sales team on May 17, naming Alan Batey to the new position of vice president of U.S. sales and service. GM’s U.S. market share through April slipped 1.9 percentage points from a year earlier to 17.7 percent, according to Autodata.

Ford is adding production at some North American plants to keep up with demand and boost output by 400,000 vehicles on an annualized basis. The company boosted incentives in May to be in line with the industry, which remains “very disciplined” in its use of discounts, said Erich Merkle, the company’s sales analyst.

“We pulled back perhaps a little too much in the month of April, which is why we had a bit of a dip,” Merkle told reporters May 30 at Ford’s headquarters in Dearborn, Michigan.

South Korea’s Hyundai Motor Co. and Kia Motors Corp. may have combined to sell 17 percent more vehicles than a year earlier, the average of six analysts’ estimates.

Volkswagen AG, which is on pace to exceed its target for selling more than 500,000 vehicles in the U.S. this year, may have increased combined sales of its Volkswagen and Audi brand vehicles by 33 percent in May, the average of four analysts’ estimates. The company’s namesake brand deliveries rose 28 percent to 38,657, according to a statement.

Bloomberg News

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