U.S. Auto Sales Fall 12% in March

U.S. automobile sales plunged 12% in March, the 10th downturn in the past 12 months, Bloomberg reported.

General Motors’ sales fell by 19%, more than analysts’ forecasts, while Ford Motor Co. and Toyota Motor Corp.’s sales each fell by more than 10%, Bloomberg said.

U.S. automakers’ share of the U.S. market fell to 48.4%, from 51.6% a year earlier, Bloomberg said, citing data by Autodata Corp. Asian companies boosted their share by 2.5%, to 44.4%.

The industry’s annualized sales rate for March fell to 15.1 million cars and light trucks from 16.3 million a year earlier, the lowest level since October 2005, Bloomberg said.

Many trucking companies move parts for auto manufacturers in the United States and Canada.