DETROIT — March proved to be another dismal month of steep declines for U.S. auto sales as low consumer confidence and job uncertainty continued to keep buyers away from showrooms, but the improvement from February signaled that bargain-hunting buyers may be providing the momentum for a turnaround.
General Motors Corp.’s sales fell 45 percent, while Ford Motor Co. reported a 41 percent drop. Sales at Chrysler, Toyota, Honda and Nissan were just a few points better.
Despite the declines from a year ago, GM, Ford, Chrysler and Toyota all posted double-digit improvements from February, when industrywide U.S. sales hit their lowest point in more than 27 years.
Sales are generally better in March as warmer temperatures help drive people to showrooms, but industrywide U.S. sales increased 25 percent from February’s figures, beating the typical increase of about 20 percent and giving rise to optimism that the worst may be over.
Automakers’ incentive spending in March reached a record high, according to auto website .
GM and Hyundai Motor Co. spent more on incentives than they ever have, Edmunds said. Ford said its incentive spending was the same as a year ago.
