General Motors sales increase 21 percent in November

[News_Editor]

General Motors sales increase 21 percent in November

2010-12-02 00:30:02 GMT+7 (ICT)

DETROIT, MICHIGAN (BNO NEWS) -- General Motors on Wednesday announced that its November of its four brands increased 21 percent in comparison with last year.

GM dealers reported 168,704 total sales in November and the gains were the result of balanced contributions from Chevrolet, Buick, GMC and Cadillac vehicles. With this sales increase, GM is on track to gain market share for the year.

"Each brand came to the party in November," said Don Johnson, vice president, U.S. sales operations. "These results show that our brands continue to gain momentum with consumers who want stylish, fuel-efficient vehicles."

During the month combined GM’s crossover vehicles improved by 39 percent and are up 51 percent in the year. Passenger car deliveries increased 17 percent driven by improving demand for the Cehvrolet Cruze and Buick Regal.

"November sales results are consistent with our expectations and show that the plan we laid out earlier this year to steadily grow in the U.S. market is working," Johnson added.

Sales of General Motors’ four brands were almost double of the sales recorded in the auto industry. In November the industry sales increased 11 percent in contrast with the 21 percent from GM.

Month-end dealer inventory in the U.S. stood at about 536,000 units, which is about 21,000 more that in October, and about 98,000 higher than November 2009.

GM recently declared in bankruptcy and the Obama Administration decided to keep the automaker from collapsing. The U.S. government invested $50 billion and the aid to GM and Chrysler saved more than 1.1 million jobs in 2009 and 314,000 jobs this year.

On early November, General Motors started actively trading on the New York Stock Exchange under the ticker symbol "GM." The automaker company priced its shares at $33 each in the largest initial public offering ever. In the morning, the shares opened at $35 and later rose to $35.63, a 6 percent increase.

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