General Motors Co. (NYSE:GM) reported a 16 percent jump in sales for the month of June, its highest sales since September 2008, spurred by double-digit gains from Chevrolet, Buick, GMC and Cadillac.
The Detroit, Michigan-based auto giant posted sales of 248,750 vehicles in the United States last month.
"The combination of new products, available credit, lower fuel prices and modest economic growth was a stronger influence on consumer behavior than economic and political uncertainty," said Kurt McNeil, vice president, U.S. Sales Operations.
GM passenger car sales rose 12 percent, boosted by a 32 percent rise in Chevrolet Malibu sales and a 21 percent gain in Buick LaCrosse sales.
Combined sales of all seven Chevrolet, Buick, GMC and Cadillac crossovers jumped 30 percent, and truck sales increased 11 percent.
Meanwhile, Ford Motor Co. (NYSE:F) also reported a 7 percent increase in monthly U.S. sales, due to higher demand for fuel-efficient vehicles as well as strong demand for vehicles like Escape, Fusion, Explorer and F-Series. Total vehicles for the month of June increased to 207,759 units.
GM shares gained 4.45 percent to trade at $20.44 on Tuesday. In the 52-week period, shares have been trading between $19.00 and $32.08. Ford shares added 2.98 percent to trade at $9.67.