Join        Login             Stock Quote

General Motors (GM) May Sales Up 11 Pct, Highest In 33 Months

 June 01, 2012 12:34 PM

(By Balaseshan) General Motors Co. (NYSE:GM) reported a 11% increase in May sales, helped by higher segment sales and stronger economy. GM's sales for the month of May was the highest monthly total since August 2009.

Total sales for the month of May were 245,256 vehicles. Retail sales increased 14.4% to 172,865 vehicles and the retail mix was 70%.

Sales from Chevrolet rose 10.2% to 177,943 vehicles, while GMC sales grew 19.3% to 38,877 vehicles. Buick sales grew 19.2% to 18,565 vehicles, while Cadillac sales fell 15.1% to 9,871 vehicles.

Sales of GM small and compact cars were up 16% in May, driven by 7,205 unit sales of new Chevrolet Sonic and 3,609 sales of new Buick Verano, which has increased sales every month since launch.

[Related -Ford Motor Company (F): What To Watch In Q4 Results?]

Combined sales of all seven Chevrolet, Buick, GMC and Cadillac crossovers were up 14% versus a year ago. The Chevrolet Equinox and GMC Terrain continue to stand out, with sales up 15% and 20%, respectively.

Full-size pickup sales were up 23% year over year, mid-size pickup sales were up 34% and full-size SUVs were up 14%.

On the same basis, Chevrolet retail sales were up 16.3%, Buick retail sales were up 10.7%, GMC retail sales were up 15.4%, while Cadillac retail sales declined 2.9%.

All vehicles inventory for May was 694,600 vehicles, down from 701,389 vehicles last month. Full-size pickups inventory was 223,296 vehicles, down from 226,585 vehicles last month.

[Related -United States Steel Corporation (X): Small Insider Buy, Big Rewards?]

Looking ahead into the full year 2012, the company still anticipates its light vehicle sales of 14.0 million to 14.5 million units.

This summer, Chevrolet will launch the new 2013 Chevrolet Malibu four-cylinder and the Chevrolet Spark, while Cadillac will launch the XTS large luxury sedan and ATS compact luxury sedan.

The Cadillac XTS went into production in May and cars are expected to begin arriving in showrooms in June. The XTS and ATS will complement the Cadillac CTS sedan and coupe, the SRX crossover and the Escalade sport utility vehicle. Cadillac's total sales reflect a planned 82% decrease in fleet sales.

GM is trading down 2.70% at $21.60 on Friday. The stock has been trading between $19 and $32.08 for the past 52 weeks.



Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageAutomating Ourselves To Unemployment

In this current era of central planning, malincentives abound. We raced to frack as fast we could for the read on...

article imageFed: Waiting For June… Or Godot?

The Federal Reserve left interest rates unchanged yesterday, as widely expected. But the possibility of a read on...

article imageThe Single Best Place To Invest Your Money For Retirement

It was never supposed to be this daunting. At least that's what we were read on...

article imageNegative Blowback From Negative Interest Rates

The Federal Reserve is widely expected to leave interest rates unchanged today. But perhaps standing pat read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.