GM January Sales In High Gear

General Motors Corp. said Wednesday it registered revved up January U.S. sales fueled by strong sales of mid-size cars, which offset the company's continuing decline in truck sales.

The automaker (GM) said it had January sales of 311,043 vehicles in the United States, a 4 percent increase from the year-ago period. The volume boost was fed by a 26 percent jump in mid-size car sales, a 12 percent surge in mid-size van sales and a 7 percent climb in sales of Chevrolet's new Silverado pickup.

GM said it had January truck sales of 144,073, which was 3.5 percent less than the record-high same period last year.

"I am very encouraged by what I see coming down the road," said GM Vice President Roy S. Roberts.

Shares of GM fell 3/16 to 89 1/4 Wednesday.

GM competitor Ford (F) saw a different story in January sales results. The automaker experienced a robust demand for trucks and a decline in passenger vehicles.

Other automakers, including DaimlerChrysler AG (DCX), Toyota Motor Corp. (TOYOY) and Honda Motor Co. (HMC), performed better than both GM and Ford, reporting double-digit gains in sales.

Rising consumer incomes and low interest rates have helped fuel the robust U.S. demand for vehicles. Ford said it expects overall U.S. auto sales to surpass 15 million for the sixth-straight year.

Written By Lisa J Ulmer