| November 3, 2009 GM, Ford show positive signs
|
(NECN/ABC: Detroit, Mich.) - Two of the Big Three U.S automakers are showing signs of recovery thanks to improved sales.
Both General Motors and Ford say their sales in October were up after a dismal September that followed the end of the government's hugely popular Cash for Clunkers program.
Last month, General Motors saw its first year-over-year sales increase in 21 months, accelerated by booming sales for the brands the company's held onto after bankruptcy.
"Ninety-five percent of our retails sales this month were from Chevrolet, GMAC, Buick and Cadillac. That's up 85 percent from just a few months ago," GM Executive Director of Global Market and Industry Analysis Mike DiGiovanni said.
Ford enjoyed similar good news. Sales in October were 21 percent, better than they were in September and 3 percent better than they were a year ago.
"It's having the products people want and being competitive on the cost of making them" Ford CEO Alan Mulally said.
While sales have picked up for GM and Ford, Chrysler seems to have run into a ditch.
Chrysler's sales in October were down 30 percent from a year ago, even with a six percent rise from September -- and analysts say the road ahead for Chrysler remains difficult.
On Wednesday, Chrysler is expected to announce it is abandoning many of its own models, instead using cars from its Italian partner Fiat.
It also has plans to offer a new incentive program:
Play video
