November 4, 2009
GM, Ford report sales gains as economy perks up
General Motors Co. reported its first monthly sales increase in nearly two years on Tuesday and Ford Motor Co. also racked up gains in October, providing further evidence that the U.S. economy appears to be on the mend, The Detroit News reports. Overall vehicle sales were level with last October's totals, ending a streak of year-over-year declines as the market continued its slow climb out of the steep downturn that began in 2008. On an annual basis, last month's selling rate was 10.5 million cars and light trucks, compared with 10.82 million a year ago and 9.22 million in September, according to Autodata Corp. October sales provided a good measure of consumer demand because sales weren't distorted by incentives or depleted inventories, as in the previous two months.
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