GENERAL MOTORS’ sales rose 11 per cent in the US last month, slightly less than industry-wide predictions but providing a sign of returning consumer demand.
GM said yesterday its four core brands – Chevrolet, Buick, GMC and Cadillac – clawed back some market share with a 21 per cent rise in sales compared with last year. The sales figures were GM’s first since its $23bn (£14.8bn) IPO last month.
GM said its average transaction prices were up $1,300 in November from a year earlier, while incentives were down. GM said growing pent-up demand for cars will be released as the economy continues to improve.
Ford also reported US sales rose 24.3 per cent in November from the same period in 2009, with 147,338 vehicles sold.