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| Ford sees rare rise in US sales | Ford sees rare rise in US sales |
| (about 1 hour later) | |
| Motor company Ford has seen its US sales rise for the first time in 12 months. | Motor company Ford has seen its US sales rise for the first time in 12 months. |
| The carmaker sold 182,951 vehicles in the US in November - slightly more than the 182,259 it sold a year earlier. | The carmaker sold 182,951 vehicles in the US in November - slightly more than the 182,259 it sold a year earlier. |
| Its Japanese rivals also saw sales rise - Nissan, Honda and Toyota clocked gains of 6.1%, 4.7% and 0.3%. | Its Japanese rivals also saw sales rise - Nissan, Honda and Toyota clocked gains of 6.1%, 4.7% and 0.3%. |
| High oil prices, falling house prices and the credit crunch have meant consumers have little cash for cars and General Motors saw sales tumble by 11%. | High oil prices, falling house prices and the credit crunch have meant consumers have little cash for cars and General Motors saw sales tumble by 11%. |
| Chrysler also saw its US sales fall, dipping 2% to 161,088 vehicles in November. | Chrysler also saw its US sales fall, dipping 2% to 161,088 vehicles in November. |
| "Ford's increase shows the influence new products can have on sales," said Rebecca Lindland, an analyst with Global Insight. | "Ford's increase shows the influence new products can have on sales," said Rebecca Lindland, an analyst with Global Insight. |
| "We still think they are going to trend downward next year, but not at nearly the same rate as this year." | |
| Ford said car sales fell 2% but truck sales rose 2% - helped by sales of the Ford Escape small sport utility vehicle and the Ford Edge. | Ford said car sales fell 2% but truck sales rose 2% - helped by sales of the Ford Escape small sport utility vehicle and the Ford Edge. |
| Shares in Ford fell 3.5% to $7.25 while shares in General Motors fell 4.1% to $28.61. | Shares in Ford fell 3.5% to $7.25 while shares in General Motors fell 4.1% to $28.61. |
| Economic fallout | Economic fallout |
| The wider economic picture in the US - shaken by the fallout from the sub-prime lending crisis - is influencing people's purchasing decisions, carmakers said. | The wider economic picture in the US - shaken by the fallout from the sub-prime lending crisis - is influencing people's purchasing decisions, carmakers said. |
| Sales of Toyota's Lexus dipped | Sales of Toyota's Lexus dipped |
| US car and light industry sales may be their lowest this year since 1998, analysts said. | US car and light industry sales may be their lowest this year since 1998, analysts said. |
| Even though Toyota saw sales rise slightly overall, sales of its luxury Lexus brand fell 7%. | Even though Toyota saw sales rise slightly overall, sales of its luxury Lexus brand fell 7%. |
| "Rising fuel prices and sliding home values delivered a one-two punch this month," Jim Lentz, executive vice president of Toyota's US sales arm, said in a statement. | "Rising fuel prices and sliding home values delivered a one-two punch this month," Jim Lentz, executive vice president of Toyota's US sales arm, said in a statement. |
| "But the industry's not down for the count. Demand for fresh, more fuel efficient products continues to show strength." | "But the industry's not down for the count. Demand for fresh, more fuel efficient products continues to show strength." |
| A weaker housing market in California and Florida dragged on sales, Nissan said. | A weaker housing market in California and Florida dragged on sales, Nissan said. |
| Both Ford and General Motors - who have been losing market share to their foreign rivals - cut first-quarter production plans when they announced their November sales figures. | Both Ford and General Motors - who have been losing market share to their foreign rivals - cut first-quarter production plans when they announced their November sales figures. |
| Ford economist Emily Kolinski Morris told reporters: "Clearly, we're concerned about the credit market turmoil and the softer economy so we're taking a cautious approach to planning our business." | Ford economist Emily Kolinski Morris told reporters: "Clearly, we're concerned about the credit market turmoil and the softer economy so we're taking a cautious approach to planning our business." |