GM, Ford US sales down, Toyota up as gas prices rise
DETROIT -- General Motors and Ford saw double-digit U.S. sales declines but Toyota's sales edged up 3 percent in April as high gas prices accelerated consumers' rush away from trucks and sport utility vehicles.
A downward pattern was expected throughout the industry as gas prices rose to record highs. Automakers reported sales Thursday.
General Motors Corp. said its truck and SUV sales were down 27 percent, dragging down increases in car and crossover sales. GM's overall sales were down 16 percent for the month compared with last April.
"Consumer preference is shifting, and we're shifting with it," said Mark LaNeve, GM's vice president of North American sales. Sales of GM's midsize Chevrolet Malibu shot up 40 percent, but the long popular Chevrolet TrailBlazer SUV saw sales dip 73 percent.
Ford Motor Co. said its SUV sales were down 36 percent in April compared with the same month last year. Car sales were down only 1 percent, buoyed by sales of the Ford Focus small car, which saw a 44 percent jump in sales. The Focus gets 24 miles per gallon in the city and 33 on the highway. By comparison, Ford's largest SUV, the Expedition, gets 12 miles per gallon in the city and 18 on the highway, according to federal statistics. Ford's overall sales were down 12 percent.
Toyota Motor Corp. said its car sales rose 12 percent, largely on the strength of the subcompact Yaris, which saw sales rise 46 percent and the hybrid Prius, which was up 54 percent. Toyota's truck and SUV sales dropped 8 percent.
"Smaller vehicles are going over big," said Jim Lentz, president of Toyota Motor Sales U.S.A. Inc.
Retail gas prices began April at $3.26 a gallon nationwide but crept up to $3.57 per gallon by the last week, according to the U.S. Department of Energy. They set a record on April 30, rising to a national average of nearly $3.62 a gallon.
Pickup sales have been falling for months because of the slowdown in housing construction, and the trend away from SUVs began several years ago as Baby Boomers aged and roomy but more fuel efficient crossover vehicles gave consumers more choice. But automakers said gas prices are accelerating the trend.
"At $3 a gallon, there's a lot of discussion about the price of gasoline but not much change in behavior. But in the mid-$3.50 range with $4 on the horizon, there's a lot of change in behavior," said Mike Jackson, the chief executive of AutoNation Inc., the country's largest auto retailer.
Jackson said it will be interesting to see if the change is permanent or if consumers return to larger vehicles once their initial shock at the pump has worn off and the economy improves.
GM shares rose 76 cents to $23.96, Ford shares were up 20 cents to $8.46 and Toyota's U.S. shares rose $1.41 to $102.80 in afternoon trading, while Toyota's U.S. shares rose $1.39 to $120.89.
The Associated Press reports unadjusted figures, calculating the percentage change in the total number of vehicles sold in one month compared with the same month a year earlier. Some automakers report percentages adjusted for sales days. There were 26 sales days last month and 24 in April 2007.