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
TheStreet Open House

Ford and GM Say Winter Weather Depressed January Sales

Stocks in this article: F GM

Detroit ( TheStreet) --  Ford (F - Get Report) and GM (GM - Get Report) both reported diminished January sales and said weather was to blame.

Ford said sales fell 7% last month to 154,644 units, while GM said sales fell 12% to 171,486 units. Ford said its retail sales fell 5%. Weather had the greatest impact in the Great Lakes and Central regions, where pickup truck sales are highest, Ford said.

"Given the difficult weather in our largest sales regions, we are fortunate to have held in at retail as well as we did," said John Felice, Ford vice president, U.S. marketing, sales and service, in a prepared statement. "In areas where the weather was good, such as in the West, sales were up.

"The poor weather also had an impact on the timing of some of our fleet deliveries," Felice said. "A bright spot is Lincoln, which had its strongest sales in four years."

GM said retail sales were down 10%, although retail deliveries of passenger cars were up slightly. Fleet deliveries declined 18%, due to a planned reduction in rental vehicle sales.

GM noted that historically January is the industry's lowest sales month of the year. "Extreme winter weather in the South, Midwest and Northeast this January further depressed GM and industry sales," the company said. GM estimated the seasonally adjusted annual selling rate (SAAR) to be 15.3 million, down from 15.6 million in December.

For the full year, GM expects light-vehicle sales to be in a range of 16 million to 16.5 million units, which would be the industry's best year since 2007, when 16.2 million vehicles were sold. GM expects to earn modestly higher market share in this environment.

Ford said Mustang sales gained 8% to 3,881 units while Lincoln sales rose 43% to 5,973 units. Fleet sales fell 14% F-Series sales were flat at 46,536. Fusion sales fell 7.5% to 20,717. 

Written by Ted Reed in Charlotte, N.C.

To contact this writer, click here.

Follow @tedreednc

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

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