Ford, GM January Sales Fall More Than Estimate on WeatherNiamh Ring
Ford Motor Co. and General Motors Co. reported declines in January auto sales that were greater than analysts had estimated, as cold weather kept shoppers from dealer lots.
Ford said sales fell 7.5 percent, which compared to the 2.3 percent drop analysts had estimated, according to data compiled by Bloomberg. GM said sales declined 12 percent, compared with a 2.5 percent average estimate from analysts.
Ford fell 2.1 percent to $14.65 at 9:54 a.m. New York time, while GM slid 1.4 percent to $35.65.
Toyota Motor Corp. sales fell 7.2 percent, compared with the average estimate for a decline of 2.7 percent.