GM, Ford's sales slow down further
Detroit: Sales of General Motors Corp. and Ford Motor Co. limped along in March as a slowing housing market dampened pickup truck sales. However, Japanese company Toyota Motor Corp. and other Asian automakers relentlessly raced ahead stealing U.S. market share from Ford and GM by strong sales of their sedans and crossover or car-based sports utility vehicles.

The slowdown in the U.S. housing market prompted many contractors, who typically buy pickup trucks, to delay purchases, hurting U.S. automakers, analysts.

Another area of concern for automakers is the implosion in the subprime lending market, which analysts say has caused banks to rethink their lending practices, not just for mortgages but autos as well. Interest rates on new car loans in January rose to 6.45 percent, the highest rate in seven years.
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Recent data eases fears of US economic slow-down
Washington: U.S. economic reports on Friday, which included data on personal income, inflation and manufacturing, showed that the US economy was strong and interest rates were unlikely to fall in the near future.

Personal income rose 0.6 percent in February.

February consumer spending also rose 0.6 percent, outpacing forecasts for a 0.3 percent gain after an unrevised 0.5 percent increase in January, according to Commerce Department data.

The strong set of numbers suggests that the consumer is a little more on solid ground than we previously realized and the prices data should keep the Fed focused on inflation rather than growth risks.

However, a key consumer survey showed March sentiment at its lowest in six months due to worries about rising prices, while a separate business survey showed March business conditions cooling in the New York region.
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