GM, Asian carmakers post higher October sales
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DETROIT — General Motors Corp. and its Asian rivals posted sales increases in October despite Southern California’s wildfires and continuing problems in the housing sector.
Toyota Motor Corp. continued its drive to replace Ford Motor Co. as the No. 2 U.S. automaker, according to sales results released Thursday.
The month was generally flat compared to last October, with some new models -- including GM’s Cadillac CTS, which saw sales up 75% -- bucking the trend, said Jesse Toprak, chief economist with Edmunds.com, an auto information site.
Chrysler took one of the biggest hits, with sales down 9% compared to October 2006. Darryl Jackson, vice president of U.S. sales for Chrysler, said worries about falling home values were affecting motorists’ buying habits in an already weak market.
Ford reported U.S. sales fell 9.3%, with car sales down 26%, while truck sales were up 1.2%.
GM’s sales were up 3%, fueled by a 6% increase in sales of trucks and SUVs.
Toyota’s sales rose 4.5%, boosted by a 7% increase in truck and sport utility vehicle sales.
Nissan Motor Co. saw sales increase 13% for the month, and Honda Motor Co. said sales were up 4%.
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