General Motors (GM) Issues Update on Q2 Global Sales
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Price: $83.77 -2.35%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.9%
Revenue Growth %: +0.3%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.9%
Revenue Growth %: +0.3%
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General Motors (NYSE: GM) reported second quarter global sales (April - June) of 2,400,000 vehicles -- an 8.7% increase over first quarter 2006 -- powered by sales of Chevrolet and Saab. GM's year-to-date sales of 4,600,000 vehicles are down 2.3% compared to the same period a year ago. This decline is largely attributable to last year's highly successful employee discount incentive program in North America and lower fleet sales in Europe.
"We are encouraged by the stabilization of our sales in the United States and the continued strength of our four global brands (Cadillac, Chevrolet, Saab and Hummer) outside of our home market," said John Middlebrook, vice president of global sales, service and marketing. "Our global market share grew each month of the quarter, concluding at 14.5 percent share performance in June."
"We are encouraged by the stabilization of our sales in the United States and the continued strength of our four global brands (Cadillac, Chevrolet, Saab and Hummer) outside of our home market," said John Middlebrook, vice president of global sales, service and marketing. "Our global market share grew each month of the quarter, concluding at 14.5 percent share performance in June."
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