GM Promotion Lifts Market Share
An incentive plan at General Motors Corp. helped the automaker gain retail market share in the second half of November, while Ford Motor Co. saw a slight decline, J.D. Power & Associates said Wednesday.
A report from the industry tracking firm’s closely watched Power Information Network said GM’s “Red Tag” event, which went into effect Nov. 13, boosted the company’s retail market share to 19.9% through Nov. 27, from 18.8% in the first half of the month.
The sale allows anyone in the United States to buy vehicles at the same price employees of GM’s auto parts suppliers pay.
Ford’s retail share slipped to 15.1% from 15.3% in the first half of the month, while DaimlerChrysler’s retail share edged up to 13.8% from 13.6% in the first half of the month.
On an industrywide basis, the report said retail sales fell 15% from Nov. 1-27, compared with a year earlier. All comparative figures go through Nov. 27.
GM and Ford reported declines in U.S. sales in October, as high gasoline prices hurt demand for their sport utility vehicles and industrywide sales fell to their slowest pace in seven years. The automakers are expected to announce November sales figures today.
