GM says US sales grew 5% in October, supported by retail sales
Passenger car sales increased 15 per cent in October compared with same month a year ago
DETROIT—General Motors posted a five per cent U.S. sales increase, according to its October figures.
Similarly to its U.S. competitor Chrysler, GM says the numbers are the highest for the month of October since 2007.
It delivered 195,764 vehicles for the month, with year-over-year sales to retail customers up seven per cent and sales to fleet customers down two per cent.
“With new designs like the Chevrolet Spark, Buick Verano and Cadillac ATS, and a growing reputation for quality and good resale value, we are becoming an even more formidable competitor in every segment—not just traditional GM strongholds like trucks,” vice-president of U.S. sales operations Kurt McNeil said in a statement.
Sales of GM passenger cars increased 15 per cent in October compared with the same month a year ago, the automaker said, with crossover sales jumping three per cent.
Sales of full-size pickup trucks were up eight per cent for the month.
Strong passenger car sales were driven by a 37 per cent increase in Cadillac sales, a 27 per cent increase in Buick sales and a 12 per cent increase in Chevrolet sales.
Combined sales of mini, small and compact cars were up 72 per cent compared with a year ago, which the automaker says was led by strong Spark and Sonic sales and a 34 per cent increase in Cruze sales.
Overall truck sales were down two per cent.
The company says the discontinuation of its GMC and Chevrolet mid-size pickups was a factor in the drop.
“Year over year, the light vehicle selling rate has increased for eight consecutive quarters without a tailwind from the residential housing sector, but that is starting to change,” McNeil said. “If these trends continue, housing may be the final piece of the puzzle that lifts sales above 15-million units on an annual basis just as GM prepares to launch even more new cars, crossovers and trucks.”
According to GM, it will replace 70 per cent of its U.S. nameplates with redesigned or all-new vehicles over the course of 2012-13.