Tuesday, May 04, 2010

Auto Industry on Road to Recovery but Pace Slows

From MSNMoney.com:

The U.S. auto industry stayed on the road to recovery in April, but it eased up on the gas pedal a bit.

Ford Motor Co. saw last month's sales rise 25 percent from a year earlier, while General Motors Co. climbed 6.4 percent. Hyundai, Subaru and others also continued to see gains from last year.

All automakers report their U.S. sales on Monday, and together they're expected to outpace last April, when the industry was hurt by the economic downturn.

But the industry overall may not be able to maintain the pace of March, when big sales promotions led by Toyota Motor Corp. fueled higher sales. The Japanese automaker needed to lure buyers after suffering a series of safety recalls beginning last fall.

As buyers' expectations for even better deals grew, demand slowed from March and some automakers eased up on promotions.

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