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Big Three's Sales Drop in March

Nat Worden

Detroit's Big Three automakers each reported more declines in U.S. sales for March, while Toyota (TM Quote) continued to gobble up market share.

The lower sales from the big U.S. automakers show that market share losses to lower-cost, foreign-based manufacturers like Toyota continue to weigh on the U.S. auto industry amid massive restructuring efforts.

The world's biggest automaker, General Motors (GM Quote), said Tuesday that its March sales fell 7.7% on a day-rate selling day basis to 349,867 vehicles. There was one extra selling day this March compared with last year.

GM's car sales dropped 1.4% to 136,866 units, while truck sales tumbled 11.3% to 213,001 trucks.

The company said it built 1.063 million vehicles in its first quarter, down 15% from last year, and it lowered its second-quarter production targets in North America. GM now expects to make 1.160 million vehicles in the second quarter, down 15,000 units, or 1.3%, from its projection last month.

Elsewhere, Ford's (F Quote) sales dropped 9%, and DaimlerChrysler (DCX Quote) said U.S. sales for its Chrysler Group slid 4.6%.

Ford's vehicle sales fell to 264,975 units from 291,146 a year ago. Car sales totaled 89,484 units, down 15% from the same month last year. Truck sales dropped 6% to 175,491 vehicles.

Sales of Ford's all-important F-series pickup trucks tumbled 15% to 71,481, while sales of its Fusion were up 47% to 15,790.

Chrysler Group sold 206,435 vehicles for the month, down from 216,412 a year earlier. The company, which has been put up for sale by its Germany-based parent, did not break out the details of its results.

Meanwhile, Toyota said its U.S. sales jumped 7.7% on a same-selling day basis in March, boosted by strong sales of its popular hybrid models.

The company, which is closing in on Ford as the No. 2 U.S. auto seller, sold 242,675 light vehicles in the U.S., up 19% from the same month last year.

Car sales climbed 13.6% to 121,881 units, while truck sales rose 2.9% to 102,666 units.

Toyota also said it sold 61,635 hybrids in March, marking a 68% increase in hybrid sales for the first three months of 2007.