GM CEO Sees Weaker December Sales
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General Motors Corp. GM.N Chief  Executive Rick Wagoner said on Friday the automaker's U.S.  sales would fail to match last December's strong levels.
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Sales at U.S. retailers fell 0.4  percent in December and were less vigorous in November than  previously thought, according to a government report on Tuesday  that implied costlier energy and slumping housing prices were  taking a toll on consumers.
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General Motors Corp. GM.N on Thursday  said it expects earnings this year to fall, due partly to a $1  billion rise in health-care costs, and the automaker also  pushed back a longer-term profit target.
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Ford Motor Co  on Thursday posted a 9 percent decline in U.S. sales for December.
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Toyota Motor Corp  said on Thursday its U.S. sales fell 1.7 percent in December.
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Swedish carmaker Saab reduced its  annual sales targets as the General Motors  unit tries to  reach break-even, the head of GM Europe said in an advance  abstract of a report in Automotive News Europe on Saturday.
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Top consumer electronics retailer Best Buy Co  on Friday posted slower growth in same-store sales for December as weaker consumer spending hurt television sales, and its shares fell more than 4 percent.
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Early holiday sales reports are weak, with Target Corp., the nation's No.2 retailer, warning that its sales may have fallen in December.
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General Motors said Thursday that its earnings would fall this year because of rising health care costs and slowing profits at its financing division.
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General Motors Corp. Chief Executive Richard Wagoner said the auto maker has no definite plans to trim its labor force in the coming months.
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Housing woes and high gas prices likely  combined to send U.S. auto sales to a weak finish in December,  capping the industry's worst sales year in a decade and  increasing pressure on U.S. automakers to cut production  further, analysts said on Wednesday.
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The top executive at General Motors  Corp  said on Tuesday that the automaker was watching the  downturn in the U.S. housing market closely and blamed the  softness there for weakness in vehicle sales.
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General Motors Corp.  on Tuesday said U.S. sales fell 24 percent in June, a decline much larger than analysts expected.
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General Motors Corp.  said on Thursday that it expects earnings this year to fall, due in part to weaker profits from its financial services arm.
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The nationâs big retail chains, a closely watched barometer of economic health, reported dreary December sales, which may stoke fears of a recessionary downtown.
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General Motors Corp.  on Tuesday posted a 6 percent drop in U.S. vehicle sales for December, ending a year when it lost more than 1 percentage point of U.S. market share.
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The number 1 U.S. automaker slides as investors anticipate December sales results to be weak.