General Motors shows first monthly sales gain in nearly two years

(November 4, 2009) 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.

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.

Among Detroit's automakers, GM and Ford posted modest gains of 4.7 percent and 3.3 percent, respectively, in October, but Chrysler Group LLC continued its free fall.

Here are the winners and losers comparing October 2008 to October 2009: Hyundai/Kia, up 47 percent; Subaru, up 41 percent; Porsche, up 15 percent; Diamler, up 9 percent; Nissan, up 6 percent; General Motors, up 5 percent; Jaguar/Land Rover, up 5 percent; Volkswagen, up 4 percent; Ford, up 3 percent; Toyota, even; Honda, even; Mazda, down 8 percent; BMW, down 19 percent; Chrysler, down 30 percent; Mitshbishi, down 48 percent; Suzuki, down 50 percent.