GM sales rising while Toyota suffers
May 20, 2010, 10:07 a.m. EDT
GM sales rising while Toyota suffers: Edmunds.com
SAN FRANCISCO (MarketWatch) — General Motors Co.’s retail sales are up 9% so far this month while rival Toyota Motor Corp. (NYSE:TM) has seen a 12% drop, according to a report from car-buying research Web site Edmunds.com on Thursday. "We’re noticing that Toyota’s incentive program is starting to fall on deaf ears since most of the people who were open to getting deals from the automaker already made their purchases," analyst Jessica Caldwell said. "Our Toyota cross-shopping data indicates that the brand has not yet recovered from recent image problems." U.S.-listed shares of Toyota were off almost 2% to $74.30 in early trades and have now lost 12% so far this year.