(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.
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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.
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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.