Will January Auto Sales Set the Pace for 2013?
Auto sales in the United States are off to a good start in 2013, with the Big Three all reporting strong January results. Before diving in, Toyota (NYSE:TM) also released preliminary sales results of 157,725 for the month, up 26.6 percent. Toyota increased its U.S. market share from 12.9 percent in 2011 to 14.4 percent in 2012.
General Motors (NYSE:GM)
“There’s a sense of optimism among our dealers that only comes when you pair a growing economy with great new products,” said Kurt McNeil, GM vice president of U.S. sales and operation, in a statement. “We started to see the benefits in 2012 with vehicles like the Chevrolet Sonic, Cadillac ATS and Buick Verano. Now in 2013, we’re entering the sweet spot of our product plan in a growing economy.”
America’s largest car manufacturer reported a 16 percent year-over-year increase in sales to 194,699 units. The gain was led by a 47 percent increase in Cadillac brand sales, its best in 23 years. Car sales increased 12 percent, truck sales increased 13 percent, crossover sales increased 27 percent, and full-size pickup sales increased 32 percent.
GM is entering 2013 having lost market share in 2012, down to 17.9 percent from 19.6 percent in 2011, when major competitors Toyota and Honda (NYSE:HMC) were largely knocked out of the game due to a devastating tsunami that hit Japan in March of that year.
|Jan. 2013 sales||Change vs. Jan. 2012|