GM reports jump in May salesDespite the recent volatility in global financial markets, General Motors said U.S. vehicle sales maintained momentum in May, advancing 16.6% compared to a year ago, as the resurgent automaker continues to rebound from last year's descent into bankruptcy. The Detroit-based auto giant reported Wednesday it sold 223,822 vehicles last month, including its orphaned Saturn, Pontiac, Saab and Hummer brands.

Among its four remaining "core" nameplates, which include Buick, Cadillac, GMC and Chevrolet, GM said it sold 222,305 cars and trucks, a 31.8% improvement over the 168,623 vehicles sold during the same period a year ago. Year-to-date, combined sales of newly introduced models, including the Chevrolet Equinox and Camaro, Buick LaCrosse and Regal, GMC Terrain, and Cadillac SRX and CTS wagon, were up 323%.

"Each of our brands has new products that are being received well by customers. In fact, these new vehicles now account for about one in every four retail sales in the U.S.," said Steve Carlisle, vice president of U.S. sales. "With each brand launching new vehicles in the next few months, we are optimistic about the remainder of the year."

GM was the first to report May sales Wednesday. Ford Motor (F), Toyota Motor (TM), Honda Motor (HMC), Chrysler Group and other automakers will report their totals later in the day.

Increase your money and finance knowledge from home

Investor’s Toolbox

Improve your investing savvy with the right financial toolset.

View Course »

Investing Like Warren Buffett

Learn from one of the world's best investors.

View Course »

Add a Comment

*0 / 3000 Character Maximum