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Toyota surges as GM falters
By ASSOCIATED PRESS
Published April 4, 2006
DETROIT - The U.S. auto industry's slump hit GM hard in March, when the struggling automaker's sales fell almost 15 percent while rival Toyota reported its highest-ever monthly sales.
The sales report Monday was more bad news for General Motors, which lost $10.6-billion in 2005 and has been giving up U.S. market share to Asian competitors, leaving Toyota nipping at its heels for the title of world's largest automaker.
GM car sales dropped 22 percent compared with March 2005 as the automaker eased off on sales to rental fleets, and truck and SUV sales were down 9 percent. GM's sales were down 5 percent for the quarter.
Sales at Toyota rose 7 percent for the month, led by a 15 percent increase in truck and sport utility vehicle sales.
Honda Motor Co. said its sales were up 4 percent for the month, largely on the strength of the hybrid Honda Insight, which had sales climb 41 percent, and the Ridgeline pickup, which was up 38 percent.
Sales of Chrysler, Dodge and Jeep vehicles were up nearly 2 percent for the month.
[Last modified April 4, 2006, 03:00:35]
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