Auto Sales Decline Sharply

The major Detroit auto makers today reported that mid-February domestic car retail sales fell sharply from last year’s strong levels, with industry giant General Motors saying its volumes dropped 38%.

The decline had been expected by analysts, who pointed to the industry’s robust showing in the Feb. 11-20 period in 1986 that was largely powered by a massive buyer-incentive campaign that was nearing an end. The No. 2 auto maker, Ford Motor Co., which earlier this month reported record profits for 1986, said its sales eased a more modest 7.9%. Chrysler Corp. reported a 15% sales drop.