Cobalt, G5 sales crash along with stock and credit markets

General Motors released sales numbers today that show why it shut down its Lordstown factory for all of January and is cutting back to one shift of production.

GM sold 5,191 Chevrolet Cobalts in the U.S. in January, down from 17,310 sales in the same month of 2007. Last month was the car’s worst month since the early days of its launch at the Lordstown plant in late 2005.

When stock markets crashed and credit markets tightened last fall, Cobalt sales dipped under 7,000. They bounced back in December with sales of nearly 13,000.

GM indicated recently, however, that it expects a prolonged sales slump when it said it was cutting production at Lordstown and laying off 2,800 of the complex’s 4,200 workers.

Sales of the Cobalt’s twin, the Pontiac G5, also were down last month. GM sold 767 G5s, which was its worst total since the car’s first sales month in July 2006.

For more information, see Wednesday’s Vindicator or www.vindy.com.