Slim Signs Of Hope In US Auto Sales

Apr 1st, 2009 - Forbes

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U.S. automakers posted dismal sales for March, but as gloomy as they were, they met or beat Wall Street's expectations, lifting shares from their intraday lows. Meanwhile, European carmakers have been successful in convincing drivers to buy new cars, and U.S. rivals are hoping to follow their lead.

Ford Motor (nyse: F - news - people ) said Wednesday its sales fell 40.9% in March, not as deeply as expected, lifting its shares 11 cents, or 4.2%, to close at $2.74 in New York. The sales decline was dragged by a 41.5% drop in demand for the Focus small car, to 12,383 units. Ford Motor's Lincoln and Mercury brand cars dropped 36.6%, to 46,467 units, in March.

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