Tuesday, March 4th, 2008...9:17 am

Market Scan Ford Shares Crash, Employees Canned , ,

), and Ford Motors all reported a decline in overall U.S. sales for February with GM reporting the largest year-over-year loss of 13%. While Ford and Toyota reported overall declines of 6.9% and 6.6% respectively. GM saw growth in its fuel-efficient sector with its Chevrolet Cobalt total sales up 56.1% to 16,958, Pontiac G6 up 50.3% to 16,901 and Buick LaCrosse up 11.9% to 3,979 compared with February 2007. Ford’s fuel-efficient vehicles also did relatively well.

Its Fusion was up 12.1% to 14,980, its Escape was down 1.4% to 14,192 and the Focus was up 10.6% to 16,302. While Toyota’s popular fuel-efficient vehicles and hybrids were down 7.0% to 18,289. The iconic Prius was down 14.5% to 10,893. Shares of Ford were down 5.4%, or 35 cents, to $6.18 at close on Monday. Citigroup downgraded the stock to sell from hold and changed its pricing target to $5.50 from $7.00. GM’s stock was down 1.3%, 30 cents, to $22.96. Toyota was up .4%, or 32 cents, to $108.82.

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