This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Ford, GM, Chrysler Report Double-Digit January Sales Gains

DETROIT ( TheStreet) -- The Detroit Three roared into 2013 as each of the three auto manufacturers reported double-digit sales gains in January, continuing the auto industry's leading role in the slowly growing economy.

Ford (F - Get Report) sales rose 22%, while GM (GM - Get Report) and Chrysler both reported 16% increases.

GM noted that while total industry sales were up about 14% from a year earlier, January sales rose 27% from the same month in 2011 and 50% from January 2010.

A strong point for Ford was that Fusion sales rose 64.5% to 22,339. In recent months, a lack of availability had restrained sales of the 2013 Fusion. GM reported gains at every brand including a 32% gain at Buick and a 47% gain at Cadillac, where the new ATS, the car of the year, sold 2,781 units. Chevrolet sales rose 11% and GMC sales rose 23%.

At Chrysler, in a rare display of sales growth, only one current vehicle showed a monthly sales decline, as sales of the Dodge Caravan fell 29% to 4,965 units.

"Despite the Grand Caravan numbers, we're very pleased with our January sales numbers," said Chrysler spokesman Ralph Kisiel. "January generally can be a slow month following in the wake of December, with all of its year-end deals."

Ford said sales of cars rose 34%, while utilities gained 23% and trucks rose 11%. Escape had its best January ever, with sales up 16%, while Explorer sales rose 46% and F-Series sales rose 22% to 46,841. Retail sales rose 24%.

"Ford is off to a strong start this year, with Fusion and Escape delivering January sales records and F-Series seeing a particularly strong reception this early in the year," said sales chief Ken Czubay in a prepared statement.

GM said retail sales rose 24% while fleet sales fell 2%.

"The year is off to a very good start for General Motors," said Kurt McNeil, vice president of U.S. sales operations, in a prepared statement. "There's a sense of optimism among our dealers that only comes when you pair a growing economy with great new products." Gains by Chevrolet Sonic, ATS and Buick Verano indicate that "we're entering the sweet spot of our product plan in a growing economy," McNeil said.

Chrysler reported its best January in five years. The Chrysler, Dodge, Ram and Fiat brands all posted gains, led by a 37% gain at Dodge, while Jeep brand sales fell 4% as sales of the discontinued Liberty fell 70% to 2,035.

Sales of the Ram pickup, Chrysler's best-selling vehicle, rose 14% to 20,474, while sales of the new compact Dart totaled 7,154.

"It's been a good week for the Chrysler Group," said Reid Bigland, head of U.S. sales, in a prepared statement. "On Wednesday we announced full year 2012 profits of $1.7 billion and followed that today with our January sales, up 16%, marking our 34th consecutive month of year-over-year sales growth."

-- Written by Ted Reed

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
F $16.03 -0.87%
GM $37.57 -0.61%
AAPL $128.54 -0.63%
FB $80.90 1.63%
GOOG $573.37 -0.05%

Markets

DOW 18,096.90 -106.47 -0.58%
S&P 500 2,098.53 -9.25 -0.44%
NASDAQ 4,967.1410 -12.76 -0.26%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs