GM August Sales Slide
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General Motors Co. said Wednesday that its sales dropped 7 percent in August from the prior month, as consumers show concerns over the struggling economic recovery.
The Detroit-based automaker said that sales were down 25 percent in August from the same time a year ago when the government's "Cash for Clunkers" program was still in effect.
"Last year's Cash for Clunkers program spiked industry sales in 2009, so results this August were not surprisingly a bit mixed," said Don Johnson, vice president, U.S. Sales Operations. "Importantly, three of our four divisions showed solid gains. This is further evidence that our performance is the result of balanced contributions across our brands."
GM said that sales for its four remaining core brands, Chevrolet, Buick, GMC and Cadillac dropped 11 percent from the same time last year in August.
Buick, GMC and Cadillac each reported sales growth last month, but sales of Chevrolet suffered compared to the same month last year as many buyers took advantage of the government rebates on Chevy cars and trucks in 2009.
The company said that Buick remains the fastest growing brand in the industry, jumping 61 percent year-over-year on strong sales of the LaCrosse full size car rose 263 percent. Cadillac sales rose 50 percent last month, while GMC sales were up 4 percent.
Sales of Chevrolet models fell 22 percent in August, while sales of Chevy full-size trucks rose 8 percent in the period.
GM is partly owned by the government after suffering during the near collapse of the U.S. auto industry. The company is preparing to go public again with an initial public offering.
The Detroit-based automaker said that sales were down 25 percent in August from the same time a year ago when the government's "Cash for Clunkers" program was still in effect.
"Last year's Cash for Clunkers program spiked industry sales in 2009, so results this August were not surprisingly a bit mixed," said Don Johnson, vice president, U.S. Sales Operations. "Importantly, three of our four divisions showed solid gains. This is further evidence that our performance is the result of balanced contributions across our brands."
GM said that sales for its four remaining core brands, Chevrolet, Buick, GMC and Cadillac dropped 11 percent from the same time last year in August.
Buick, GMC and Cadillac each reported sales growth last month, but sales of Chevrolet suffered compared to the same month last year as many buyers took advantage of the government rebates on Chevy cars and trucks in 2009.
The company said that Buick remains the fastest growing brand in the industry, jumping 61 percent year-over-year on strong sales of the LaCrosse full size car rose 263 percent. Cadillac sales rose 50 percent last month, while GMC sales were up 4 percent.
Sales of Chevrolet models fell 22 percent in August, while sales of Chevy full-size trucks rose 8 percent in the period.
GM is partly owned by the government after suffering during the near collapse of the U.S. auto industry. The company is preparing to go public again with an initial public offering.
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