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U.S. auto sales may fall 7 percent this month,
a smaller decline than analysts expected, after automakers stopped offering the no-interest loans that enticed buyers and thinned vehicle inventories last quarter, according to a Bloomberg News story by Alison Fitzgerald.
Sales may decline about 9 percent at both General Motors Corp. and Ford Motor Co. and by 12 percent at DaimlerChrysler AG's Chrysler unit, according to the average estimates of analysts polled by Bloomberg News.
Overseas-based automakers will gain U.S. market share as their sales were little changed from January 2001, analysts said in advance of Feb. 1 sales reports.
Automakers and analysts said about 500,000 vehicles sold in the fourth quarter would have been sold this year if drivers hadn't been drawn
to showrooms early by the loan offers. This so-called "pull-ahead effect" led forecasters to expect a bigger decline than actually occurred this month, executives said.
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