Shares in Toyota (TM) were down 3.9% in Tokyo trading over night. The Nikkei was down, but not nearly that much.
It may be dawning on Wall St. that the big Japanese car company is not going to walk all over GM in the US market. No matter what everyone thought.
Toyota’s sales in the US during February were up 12.2%. but GM’s rose 3.7% which almost no one expected. Pick-up sales at the big US car company were up 7.7% lead by the new Silverado. And, the media has reported that GM’s Saturn line is taking sales from the Japanese.
GM’s vehicles in inventory were up over last year, not a great trend.
But, if GM’s sales can keep rising in it home market, it may be a sign that its new cars are catching on and that it will not continue to bleed market share. This, combines with its notable strength in countries like China, could pull the firm out of the mud.
Douglas A. McIntyre
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