GM (GM) Misses March Estimate Amid Broader Pressure
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General Motors (NYSE: GM) is flattening after an earlier drop on March 2013 delivery numbers.
The automaker reported a 6.4 percent increase in total U.S. deliveries for the month, to 245,950 units. Analysts were looking for a gain of 12 percent, according to Bloomberg-sourced data.
Retail sales rose 4 percent while fleet sales improved 12 percent. GM noted that Cadillac was up almost 50 percent; Buick was up 37 percent; GMC was up 12 percent; and Chevrolet sales were essentially equal to a year ago."
Looking at the quarter. total deliveries through the end of March rose 9.3 percent to 664,963\ units, with retail making up about 74 percent of the total.
As might be expected, Chevy Volt sales fell 35.4 percent to 1,478 as more competition is entering the market and amid a few scares last year that led to a recall of the vehicle.
For more data on the results, click here.
Shares of GM are up 0.2 percent.
The automaker reported a 6.4 percent increase in total U.S. deliveries for the month, to 245,950 units. Analysts were looking for a gain of 12 percent, according to Bloomberg-sourced data.
Retail sales rose 4 percent while fleet sales improved 12 percent. GM noted that Cadillac was up almost 50 percent; Buick was up 37 percent; GMC was up 12 percent; and Chevrolet sales were essentially equal to a year ago."
Looking at the quarter. total deliveries through the end of March rose 9.3 percent to 664,963\ units, with retail making up about 74 percent of the total.
As might be expected, Chevy Volt sales fell 35.4 percent to 1,478 as more competition is entering the market and amid a few scares last year that led to a recall of the vehicle.
For more data on the results, click here.
Shares of GM are up 0.2 percent.
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