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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Top Stories Most Popular Photos Full Coverage Sitemap US auto sales jump 17 percent in January AFP - Wednesday, February 2 Send IM Story Print US auto sales jump 17 percent in January CHICAGO (AFP) - – In a further sign of the auto industry's recovery, General Motors, Ford, Chrysler and Toyota posted double digit gains in January US auto sales. "January is a seasonally slow month, but we believe the industry turned in a healthy showing for the month with solid volume gains, reiterating the fourth quarter's positive momentum," said Efraim Levy, an analyst with Standard & Poor's Equity Research. "Another positive we see from the reports of both companies is that sales are being driven by consumers, boding well for future demand, even as rental fleet sales declined for both Ford and GM." Total industry sales rose 17 percent to 819,895 vehicles in January, according to Autodata. The seasonally adjusted annualized rose to 12.62 million vehicles from 12.55 in December. GM, the biggest US automaker, said sales roared 22 percent higher to 178,896 vehicles in January, driven by sharply stronger demand for its cars and trucks. Its share of the key US market rose 0.9 points to 21.8 percent, according to Autodata. That was much better than analysts at automotive website Edmunds.com had forecast, an increase of 11 percent. "The gain was driven by solid retail sales which were 36 percent higher than a strong January a year ago," said the company, which emerged from a government-financed restructuring under bankruptcy protection in 2009. "January reflects a solid start of the year for us, for the industry and for the overall US economy," Don Johnson, vice president of US sales operations said in a conference call. "The outlook as a result remains very optimistic." Chrysler said sales jumped 23 percent to 70,118 vehicles in January, the 10th consecutive month of year-over-year sales increases, as its share grew 0.4 points to 8.6 percent. "We have set the foundation for a year of sales growth with our 16 all-new or significantly-revamped models for 2011," said Fred Diaz, Chrysler's top sales executive. "We have started the year on a strong note, and we intend to continue gaining sales momentum as our new 2011 models hit dealer showrooms during this first quarter." Chrysler was also forced into a government-backed bankruptcy after auto sales collapsed in late 2008 but said Monday it expects to post a profit this year after trimming losses in 2010. While the results were weaker than a forecasted 32 percent gain, they are still very strong, noted Jessica Caldwell, an analyst with Edmunds.com. "Chrysler's year over year increase is especially impressive considering how much they sold in fleet this time last year," Caldwell said. Ford's 13.3 percent gain to 127,317 vehicles was in line with expectations after the automaker slashed low-margin sales to fleet customers. However its share fell 0.5 points to 15.5 percent, according to Autodata. Ford -- which survived the downturn without government help and doubled its profit in 2010 to its highest annual earning in a decade -- said retail sales grew by 27 percent in January. "We begin 2011 in a strong position -- ready to meet the needs of a wide range of customers with a full portfolio of high-quality, fuel-efficient vehicles," said Ken Czubay, Ford vice president for US marketing, sales and service. "We're off to a great start in 2011 with the largest January retail sales increase in more than a decade." Toyota -- which was hit hard by a series of mass recalls that led it to briefly suspend sales and production in the United States at the end of January 2010 -- said its sales rose 17.3 percent to 115,856 vehicles from the depressed year-ago levels. Its share was flat at 14.1 percent. "We are encouraged by last month's results, which show continued strength in both the passenger and light truck segments," said Bob Carter, general manager of Toyota Motor Sales, USA. "Loyalty and conquest rates have returned to historical levels and we believe our '#1 for a Reason' advertising campaign, launching this month, will help build on our early sales momentum." Honda posted a 13 percent gain to 76,269 vehicles while its share slipped 0.4 points to 9.3 percent. Nissan's sales rose 15 percent to 71,847 as its share slipped 0.2 points to 8.8 percent. Hyundai's sales rose 22 percent to 37,214 vehicles as its share rose 0.1 points to 4.5 percent. Recommend Send IM Story Print News Search Top Stories US auto sales jump 17 percent in January Cancer drug, when combined, boosts death risk British regulators ban YSL perfume ad Unilever to stop testing Lipton tea on animals BBC's 'Top Gear' show upsets Mexico More Top Stories » ADVERTISEMENT Most Popular Most Viewed US golfer Woods finds old habits hard to shake Brain scan can tell if a smoker will quit Canada investigates mass sled dog slaughter BP logs first annual loss since 1992 on oil spill disaster Photos released to protect threatened Amazonians More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! 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