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Auto on Info  March 2003

In the U.S. in February 2003, General Motors Sales Plunge, Honda Sales Surge

In February 2003, General Motors sales plunged 19%1. This drop is so large that it may presage the demise of a Goliath; however, analysts generally fancied another interpretation: GM sells quite a number of bulky products and in February 2003 bulk was out. There are numbers that support the proposition; in February 2003, Toyota Corolla sales surged 58.5%2 and Toyota Prius sales rose 32.9%1. Both the Toyota Corolla and the Toyota Prius are small cars; the latter, a high tech hybrid gas-electric auto.

At the other end, Honda's February 2003 sales surged 14%3. Its light truck (SUV and minivan) sales rose 32.9%2 and its car (versus light truck) sales rose 4.2%2.

Toyota, Honda, and Nissan all held on to their January 2003 market share gains. Year-to-date and historical market shares of the Reliable Two, Nissan, Hyundai, and the Big Three are given below.

Also, BMW continued to expand its U.S. sales lead over Mercedes-Benz; however, both improved sales in February 2003.

1 Page A1 of the March 4, 2003, issue of the Wall Street Journal

2 http://www.nytimes.com/imagepages/2003/03/03/business/04AUTO.chart.jpg.html

3 Page A8 of the March 4, 2003, issue of the Wall Street Journal

Source for YTD 2003 data: Page C10 of the March 4, 2003, issue of the Wall Street Journal

 

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