General Motors enjoyed a good ending to the month in September. Sales were up across the board as GM still continues to lead the U.S. market share.
Online PR News – 13-October-2010 – – DETROIT, M.I. – Detroit MI automakers were happy to see an increase in sales as the nation’s largest automaker General Motors saw its U.S. sales increase with 173,031 vehicles sold, a 12 percent increase of last month.
Following behind GM with smaller portions of the market were Ford with an increase of 46 percent from last month with 160,375 vehicles sold and Chrysler up 61 percent last month with 100,077 autos sold. Chrysler outsold Honda in September by more than 2,000 vehicles. This placed Chrysler in fourth place behind Toyota who sold 147,162 vehicles.
Ford may have raised its market share by two points up to 16.7 percent, but General Motors still holds its title with 18 percent of the U.S. market. This is apparent with GM’s sharp rise in sales for its different vehicles. GM’s Acadia Crossover jumped in sales 62 percent, while its top two trucks spiked in sales with the Chevrolet Silverado up 65.9 percent and the GMC Sierra up 52.9 percent. Combined, Detroit MI General Motors’ lineup of Chevrolet, Buick, Cadillac and GMC sales have risen 22 percent from 2009.
“We view our performance in September as further evidence that our plan for the U.S. market is well balanced, and it continues to pay dividends in what is a very challenging economy and a competitive market,” Don Johnson, GM’s vice president for United States sales operations, told The New York Times.
Automaker sales growth may have been 6.5 percent slower than August, but Johnson is optimistic saying in the Los Angeles Times, “September is traditionally a lower selling month than August… The growth might be sluggish, but it does exist. We don't think it's going to bust loose”, he said. “Consumers are willing to spend, albeit cautiously.”
Detroit MI automaker General Motors also reported strong sales of its full-size pickups. This is an indication that construction-based businesses are beginning to expand and branch out business again as the need for trucks seem to be on the rise as GMC trucks are up 28 percent from last September. Another great sign of the auto market taking a turn for the better is the fact these gains in September came without any increase in incentives.
For the first time since February 2009, trucks outsold cars. Truck sales were high at a growth of 40.8 percent while car sales had elevated only 18 percent. In general, major automakers reported auto sales rose 28.5 percent in September, which helped push the seasonally adjusted annual rate to 11.8 million, which is the highest since August 2009 when the annual rate topped 14 million.
The good news in the industry can only help General Motors with its forthcoming initial public offering. The Detroit MI company filed registration papers in August with the U.S. Securities and Exchange commission for the planned IPO. GM will try to raise between $8 to $10 billion in November. This amount is a smaller sale than originally planned by GM.
[Source(s): Wall Street Journal, New York Times, Los Angeles Times, The Detroit News, Detroit Free Press, New Jersey Business.]