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| Ford leads drop in US car sales | |
| (40 minutes later) | |
| Ford led a slide in US car sales for most firms last month, after the recent financial turmoil spooked customers. | |
| The Us group sold less than 190,000 vehicles, 21% lower than at the same time last year, and much worse than the 4% fall predicted by analysts. | |
| Meanwhile, Japanese rival Toyota blamed a drop in truck sales for a 4% fall in overall vehicle sales. | |
| But, General Motors (GM) bucked the trend with a 4% rise in sales - led by demand for its new line-up of vehicles. | |
| Ford is struggling to hold on to a near 15% share of the US market amidst efforts to restructure to cut losses. | Ford is struggling to hold on to a near 15% share of the US market amidst efforts to restructure to cut losses. |
| Chrysler, meanwhile, posted a 5% drop in sales for the month - down to 159,799 vehicles against 168,888 a year earlier. | Chrysler, meanwhile, posted a 5% drop in sales for the month - down to 159,799 vehicles against 168,888 a year earlier. |
| Car sales fell 39% to 56,000 while truck and sports utility vehicle sales fell 9% to 134,000, Ford said. | Car sales fell 39% to 56,000 while truck and sports utility vehicle sales fell 9% to 134,000, Ford said. |
| Ford's figures were knocked by a 62% drop in sales to hire-car companies, though this was in line with Ford's plan to cut back deals that hurt its image and where profit margins are low. | Ford's figures were knocked by a 62% drop in sales to hire-car companies, though this was in line with Ford's plan to cut back deals that hurt its image and where profit margins are low. |
| Sales of Ford's best-selling F-series pick-up trucks fell more than 20%. | Sales of Ford's best-selling F-series pick-up trucks fell more than 20%. |
| Buyer worries | Buyer worries |
| Sales of trucks and 4x4 vehicles - so-called gas guzzlers - have been slipping as consumers turn to more efficient smaller cars and hybrids in an effort to cut fuel bills. | Sales of trucks and 4x4 vehicles - so-called gas guzzlers - have been slipping as consumers turn to more efficient smaller cars and hybrids in an effort to cut fuel bills. |
| Analysts suggest US consumers have also been tightening their belts when it comes to big purchases in the wake of recent credit worries and trouble in the housing market. | Analysts suggest US consumers have also been tightening their belts when it comes to big purchases in the wake of recent credit worries and trouble in the housing market. |
| Experts add that the fall in sales at the Japanese rival also signalled a bad month for automakers in the US as the group had managed to rack up gains in recent months. | Experts add that the fall in sales at the Japanese rival also signalled a bad month for automakers in the US as the group had managed to rack up gains in recent months. |
| Toyota's overall decline compared to last year was also led by its trucks, with sales down 5.7%. Car sales slipped 3.5%. | Toyota's overall decline compared to last year was also led by its trucks, with sales down 5.7%. Car sales slipped 3.5%. |
| However, the figures suffered from being compared with the same month in 2006, which was the group's best September on record. | However, the figures suffered from being compared with the same month in 2006, which was the group's best September on record. |