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Toyota sales up as GM, Ford fall Toyota sales up as GM, Ford fall
(about 6 hours later)
Japanese car firm Toyota has once again outstripped its US rivals in monthly car sales, figures for January show.Japanese car firm Toyota has once again outstripped its US rivals in monthly car sales, figures for January show.
Toyota, which is set to take Ford's number two place in US sales in 2007, saw sales 9.5% up year-on-year, boosted by its Camry mid-sized car and Prius.Toyota, which is set to take Ford's number two place in US sales in 2007, saw sales 9.5% up year-on-year, boosted by its Camry mid-sized car and Prius.
In contrast, General Motors (GM) saw sales 16.6% lower and Ford sales fell 19% with both firms suffering a decline in sales to rental firms.In contrast, General Motors (GM) saw sales 16.6% lower and Ford sales fell 19% with both firms suffering a decline in sales to rental firms.
Meanwhile Daimler Chrysler sales rose 3.2%, and Mercedes-Benz sales soared.Meanwhile Daimler Chrysler sales rose 3.2%, and Mercedes-Benz sales soared.
The luxury brand saw its sales climb nearly 37% higher in January.The luxury brand saw its sales climb nearly 37% higher in January.
Toyota said its results for January had never been so high, with car sales climbing 13.1% while sales of trucks were 5% higher.Toyota said its results for January had never been so high, with car sales climbing 13.1% while sales of trucks were 5% higher.
The Japanese car firm's strength continues a trend that has been visible for several months, with US car firms struggling to compete with their Asian rivals which have moved towards more efficient vehicles.The Japanese car firm's strength continues a trend that has been visible for several months, with US car firms struggling to compete with their Asian rivals which have moved towards more efficient vehicles.
The fall in sales for Ford had been close to expectations, after the firm said sales were likely to drop 20% in advance of the results.The fall in sales for Ford had been close to expectations, after the firm said sales were likely to drop 20% in advance of the results.
Ford stressed that it was focusing on retail customers and reducing sales to daily rental firms.Ford stressed that it was focusing on retail customers and reducing sales to daily rental firms.
"Our customers benefit from this plan because their vehicles' residual values will improve." said the firm."Our customers benefit from this plan because their vehicles' residual values will improve." said the firm.
But Ford warned that the slowing housing market would dent sales of full-size pick up trucks over the next six months.But Ford warned that the slowing housing market would dent sales of full-size pick up trucks over the next six months.
Brands under the Ford umbrella include Jaguar, which fell 13%, Land Rover which was 11.7% down and Volvo, 7% lower.Brands under the Ford umbrella include Jaguar, which fell 13%, Land Rover which was 11.7% down and Volvo, 7% lower.
Struggling car giant Ford expects to post a 20% drop in January US sales compared with the same month last year, but insists its turnaround is on track.
The firm, which last week reported a record $12.7bn (£6.5bn) annual loss for 2006, has put the January fall down to lower sales to rental-car companies.
Although no exact numbers have yet been released, it said general retail sales were "holding up really well".
Ford has plans to close 16 factories in North America and cut 45,000 jobs.
Tough competition
Like fellow US car firm General Motors, Ford has seen its domestic sales decline in the face of tough competition from Asian rivals and an over-reliance upon thirsty sports utility vehicles and pick-up trucks.
GM has already warned that its January sales figures will be down, again due to reduced sales to the rental-car industry.
Ford sold 190,574 cars and light trucks in January 2006.
Its overall 2006 sales fell 8%, while those at GM dropped 8.7%, and Chrysler's slid 5%.