Monday, March 03, 2008

Car Sales Down

Your happy economic news of the day.

SAN FRANCISCO (MarketWatch) -- Ford Motor Co., General Motors Corp. and Toyota Motor Corp. on Monday all reported declines in February U.S. sales, reflecting the tough climate for consumers during the persistent housing slump and credit crunch.
Dearborn, Mich.-based Ford said that it sold 196,681 cars and trucks last month, down 6.9% from 211,150 a year earlier. Another drop in fleet sales offset a strong showing on the retail side from the Focus sedan and the Edge crossover.
November 2007, which marked the end of a yearlong losing streak for Ford, was the last time the maker of the Blue Oval brand reported a year-over-year increase.
Ford's longtime best-selling F-Series pickup saw a 4.9% drop to 52,548 trucks, with demand stung by the decline in construction. Overall, trucks fell 5.6% while cars declined 9.3%.