General Motors (GM) January Sales Jump 22%
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General Motors Co. (NYSE: GM) posted a 22 percent rise in sales for January, which outperformed the market overall, boosted by demand for its pickup trucks.
The Detroit-based automaker reported that it sold 178,896 cars and trucks last month for its four core brands, up from 146,825 last year. Last year's sales included units from brands that the company no longer owns or are now defunct (Pontiac, Saab, Saturn, Hummer).
"January was a good month and signaled a solid start to the new year for each of our divisions,” said Don Johnson, vice president, U.S. Sales Operations. “Our results were driven by gains across the board in all segments, with our newest models leading the way.”
Fleet sales were down 7 percent for the month, with sales to rental fleets dropping 11 percent. Commercial sales to customers rose 7 percent.
Overall retail sales jumped 36 percent, with car sales up 29 percent, trucks up 34 percent and crossovers rising 35 percent in the period.
The results compared to Ford posting a rise of 13 percent overall for January, including a 27 percent rise in retail sales.
Shares of GM are up 27 cents to $36.76 in midday market movement on Tuesday.
The Detroit-based automaker reported that it sold 178,896 cars and trucks last month for its four core brands, up from 146,825 last year. Last year's sales included units from brands that the company no longer owns or are now defunct (Pontiac, Saab, Saturn, Hummer).
"January was a good month and signaled a solid start to the new year for each of our divisions,” said Don Johnson, vice president, U.S. Sales Operations. “Our results were driven by gains across the board in all segments, with our newest models leading the way.”
Fleet sales were down 7 percent for the month, with sales to rental fleets dropping 11 percent. Commercial sales to customers rose 7 percent.
Overall retail sales jumped 36 percent, with car sales up 29 percent, trucks up 34 percent and crossovers rising 35 percent in the period.
The results compared to Ford posting a rise of 13 percent overall for January, including a 27 percent rise in retail sales.
Shares of GM are up 27 cents to $36.76 in midday market movement on Tuesday.
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