P.M. BRIEFING : Big Three’s Sales Slump 22% in Mid-December From Year Ago

Sales of North American-made cars and light trucks by the Big Three slumped 22% in mid-December from a year earlier, when buyers rushed showrooms to take advantage of expiring incentives, the companies said today.

General Motors Corp., Ford Motor Co. and Chrysler Corp. reported that their vehicles sold at an average daily rate of 25,795 during the Dec. 11-20 period last year compared with a rate of 33,082 during the same time in 1988.

Car sales dropped 27.4%, while sales of light trucks fell 13.3%.

A year ago, the Big Three had incentive programs in effect and set to expire Dec. 31. As a result, buyers headed to dealerships to cash in on specials at the year’s end, normally a slow period for car and truck sales.

Since then, consumers have become numbed by incentives, and the market has been saturated with new cars and trucks.

Among the Big Three, Ford’s mid-December combined car and truck sales dropped the most, falling 25.2% from a year ago. Chrysler’s vehicle sales for mid-December were down 22.8% and GM’s sales fell 19.5%.