General Motors' U.S. Sales Up 11%, Best April In 5 YearsVW Staff
General Motors Company (NYSE:GM)'s U.S. auto sales rose 11 percent in April as all four GM brands posted higher sales.
General Motors Company (NYSE:GM) Auto Sales In April
General Motors Company (NYSE:GM) said its April sales were the best for that month in five years, up 11.4 percent to 237,646 new vehicles. This beat consensus estimate of 10 percent growth.
Kurt McNeil, vice president of U.S. sales operations expressed optimism with GM’s growing market share and economy’s continuous growth forward.
Results matched expectations from car-shopping website Edmunds.com. According to the website, broadly U.S. new auto sales for April are anticipated to rise 10 percent from a year earlier and drop 10 percent from the prior month. GM reported it sold 3.4 percent below March’s total of 245,950.
Total Cadillac sales jumped 34 percent and total Buick sales were up 11 percent. Chevrolet sales were up 11 percent as GMC sales increased 6.7 percent.
General Motors Company (NYSE:GM) shares rose 10 percent over the past three months.
Earlier today, Chrysler Group LLC reported its U.S. auto sales increased 11 percent in April as a double-digit-percentage increase of truck sales helped offset weakness at its namesake brand. Meanwhile Ford Motor Company (NYSE:F)'s U.S. new-vehicle sales increased 18 percent as demand for its fuel-efficient Fusion and Escape continued to rise.
It is widely anticipated that as the U.S. Treasury sells of its shares of General Motor Co, the automaker is likely to return to the Standard & Poor’s 500 index in the next year, passing another milestone in its redemption.
During February, General Motors Company (NYSE:GM) reported a larger fourth-quarter profit and earned money for the third-straight year as a financial boost from North America and the majority of its operations offset wider losses in the auto maker's European operations.
General Motors Company (NYSE:GM), based in Detroit, will probably report its 13th straight quarter of profit May 2 when it announces results for the first three months of the year, according to a survey of 16 analysts by Bloomberg. Revenue likely slipped 3 percent as the automaker geared up to introduce about 20 new vehicles in the U.S. this year, including a redesigned Chevrolet Silverado pickup and Impala sedan this quarter.
According to RBC’s report, Chevy dealers began receiving the new 2014 Impala mid-month, while production of new K2XX pickups began in April. The new 2014 Chevrolet Silverado 1500 and GMC Sierra 1500 crew cabs will begin arriving in dealerships in the summer.