General Motors (GM) Sales Rise 18% in August
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General Motors Co. (NYSE: GM) reported total sales of 218,479 vehicles in August, an 18 percent increase compared with August 2010.
Retail deliveries were up 22 percent compared with the same month a year ago and accounted for 74 percent of GM sales. Deliveries to fleet customers increased 8 percent.
In August, year-over-year passenger car sales increased 18 percent, crossover sales increased 17 percent, and truck sales increased 18 percent.
Some highlights of the month include:
"Our balanced portfolio of trucks and fuel-efficient vehicles like the Chevrolet Cruze, Chevrolet Equinox and GMC Terrain are helping GM continue to gain market share, which has now increased in seven of the past eight months," said Don Johnson, vice president, U.S. Sales Operations. "We're carrying good momentum and we’re cautiously optimistic that we’ll see U.S. economic growth improve in the months ahead."
Shares of GM are currently down by 0.71 percent or $0.17 to $23.83 on the news.
Retail deliveries were up 22 percent compared with the same month a year ago and accounted for 74 percent of GM sales. Deliveries to fleet customers increased 8 percent.
In August, year-over-year passenger car sales increased 18 percent, crossover sales increased 17 percent, and truck sales increased 18 percent.
Some highlights of the month include:
- General Motors Chevy brand witnessed Cruze sales surpass 20,000 for the fifth month in a row; Equinox sales rose 58 percent compared with August 2010.
- For the company’s GMC brand, Terrain sales were up 88 percent while the Acadia was up 54 percent compared with August 2010.
- Its Cadillac brand reported combined sales of the Cadillac CTS; sedan, coupe, and wagon, increased 39 percent compared with August 2010. Cadillac reduced its fleet sales by 51 percent.
- GM's Buick brand had had its 23rd consecutive month of year-over-year sales gains, and the Regal had its best month since launch as sales more than doubled.
- Month-end dealer inventory in the United States was 556,884 units, including 212,520 full-size pickup trucks. The company is currentl on track to meet its target of ending 2011 with a full-size pickup inventory of about 200,000 units as sales were up 10 percent compared with July.
"Our balanced portfolio of trucks and fuel-efficient vehicles like the Chevrolet Cruze, Chevrolet Equinox and GMC Terrain are helping GM continue to gain market share, which has now increased in seven of the past eight months," said Don Johnson, vice president, U.S. Sales Operations. "We're carrying good momentum and we’re cautiously optimistic that we’ll see U.S. economic growth improve in the months ahead."
Shares of GM are currently down by 0.71 percent or $0.17 to $23.83 on the news.
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