DETROIT (AP) —
Strong demand for cars and crossovers lifted Ford's U.S. sales 3
percent in October, a positive sign for automakers who are hoping a
healthier economy will draw buyers back to showrooms.
Ford said
its sales rose 21 percent from September, when auto sales were still in
a hangover after the Cash for Clunkers program boosted sales this
summer. Automakers had said October would be a test of how strong the
market is without any effect from clunkers.
Ford's overall car
sales rose 11 percent over last October, while crossovers climbed 23
percent, Ford Motor Co. said Tuesday. Truck sales fell 10 percent. New
products like the Ford Taurus sedan and Lincoln MKT crossover sold
well. More than 80 percent of last month's sales came from new 2010
models.
Fuel-efficient models like the Ford Fusion sedan and
Escape small sport utility vehicle also flew off showroom floors, which
both notching sales jumps of around 25 percent.
Ford said it
marked the 12th time in 13 months that its U.S. market share rose as it
continues to grab buyers from competitors. Ford has been benefiting
from consumer goodwill because it didn't take government bailout money
or go into bankruptcy, as General Motors Corp. and Chrysler LLC did.
It
was more good news for Ford, which said Monday it made nearly $1
billion in the third quarter. Ford's North American division also
reported its first profitable quarter four years.
Ford shares fell 3 cents to $7.55 in midday trading on the New York Stock Exchange.
Other automakers were scheduled to report results later Tuesday.