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Auto Sales Slipping in February

Auto sales are expected to fall in February. The Detroit Free Press reports that GM has already reduced prices on their mid-sized SUVs in February by as much as $2,000. The Free Press also reports that analysts expect the Chrysler Group to continue to do well as they have been enjoying strong sales for the 300 sedan. But analysts expect sales for Ford and General Motors to decrease in February. Marketwatch.com also reported grim news for the auto giants, saying that, "Ford Motor Co. and General Motors Corp., already crimped by higher steel and oil prices, are seeing expectations for their market shares slip amid unimpressive forecasts for February U.S. auto sales." Oil is back above $50 again which is not good news for auto retailers or for the U.S. economy in general.

Posted on February 28, 2005





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