The Pendleton Panther

General Motors Benefits From Toyota’s Misfortune

Posted on: February 15, 2010

General Motors

Toyota

Toyota auto sales dropped 16% in the month of January because they had to recall millions of vehicles and halted sales of a few models.  While Toyota was suffering, other car companies were benefiting.  January is normally a high selling month for the Japanese automaker but this year it was a great month for US auto sales.  Due to higher crossover and fleet vehicle sales, General Motors January sales rose 14%.  Ford Motor saw sales rise 25% on higher fleet sales, and due to higher demand for sedans Nissan’s sales increased 16%.  Last week, General Motors offered a zero percent financing and other incentives to Toyota drivers.  Mike DiGiovanni, GM’s top sales analyst stated that there are enough signs of recovery for the company to raise its estimates for total U.S. sales.  “We are slightly more optimistic,” DiGiovanni said.  In January General Motors predicted the 2010 sales to be from 11 to 12 million, but on Tuesday they raised the low end to 11.5 million.  Also, General Motors market share is 21% which solidified its lead over Ford and Toyota.

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