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U.S. markets recover from steep losses
DETROIT, May 2 (UPI) -- U.S. automaker Ford Motor Co. has taken over the No. 2 spot in U.S. vehicle sales market share, passing Toyota, figures show.
While Detroit rivals General Motors Corp. and the now-bankrupt Chrysler LLC were accepting billions of dollars in taxpayer loans to stay afloat, Ford did not and grabbed a bigger slice of the U.S. automotive market in April, the Atlanta Journal-Constitution reported Saturday.
The company logged record sales of its Fusion model, pushing it past Toyota to retake its position as the nation's No. 2 car seller even though its monthly sales fell 32 percent from a year ago overall. The newspaper said Ford took 16 percent of the market as its sales rose by 2,878 units from March to April.
Ford's move up contrasted with Chrysler's sales, which fell 48 percent from a year ago, while GM's dropped 34 percent, sales figures showed. Toyota, meanwhile, reported a 42 percent drop in April as sales of its Prius hybrid sank by a resounding 62 percent.
The Journal-Constitution reported Honda registered a 25 percent sales drop, while Nissan sales fell 38 percent.
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