GM, Ford sales drop in January

Reuters is reporting today that industry analysts expect continued bad news for GM and Ford when January's results are posted Wednesday. Both automakers are expected to report sales down as much as 10 percent, while Toyota sales should be up about 10 percent. Honda is also expected to show a double-digit gain.

Compact cars and compact SUVs are reported to be selling well, presumably driven, in part, by rising gasoline prices. Not a good sign for the newly launched 2007 big utes from GM and Ford.

In the quote of the day, Burnham Securities analyst David Healy said, "Imports and transplants have eaten Detroit's lunch and are beginning to nibble at its dinner as well."

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