General Motors, Ford US sales down in January 2006
Market experts have claimed that the sales for the top two US automakers Ford and GM are down in the month of January 2006 as well. These two companies are continuing losing market share to their Japanese counterparts like Honda, Toyota, and Nissan. South Korean Hyundai is also continuing to do well.
Wall Street expects both Ford and General Motors to report slide in sales for the last month. The reports would be released later today. Both the companies have suffered loss of market share to their competitors in their domestic market since the last couple of years.
GM and Ford both have announced plans to cut jobs and close down plants in the coming years to lessen losses. However, the drop in sales would hurt their stock prices in the share market. The problem is worsened by the fact that GM recently reported a net loss of $4.8 billion during the release of their revenue figures for last year.
Japanese automakers on the other hand are expected to reveal an impressive growth in their vehicle sales figures for the first month of the year. And these trends are expected to continue for sometime.