March proved to be another dismal month of steep declines for U.S. auto sales, as low consumer confidence and job uncertainty kept buyers away from showrooms.
General Motors led the slide with a 45% U.S. sales plunge compared with a year earlier, while Ford reported a 41% drop. Sales at Toyota and Chrysler both dropped 39%, while Honda reported a 36% decline. Detroit-based GM sold a total of 155,334 light vehicles, while Ford sold a total of 131,102. Ford’s total came in slightly below that of Toyota, which reported U.S. sales of 132,802 units.
Despite the declines, GM, Ford and Toyota all posted double-digit improvements from February, when the U.S. sales overall hit their lowest point in more than 27 years.
Sales are generally better in March as warmer temperatures help drive people to showrooms, but analysts expect to see little improvement from February across the industry. That’s despite a record level of incentive spending by automakers last month, according to Edmunds.com.
