General Motors' Overall Sales Rose 5.4% in July
Buick sold 16,799 vehicles in July, a 137% increase above last year, GM said in a statement. Cadillac sales rose 142% higher than last year, with dealers reporting 14,919 deliveries. The totals are the highest for the two brands since August 2008. Chevrolet's July total sales rose 12% compared to last year, while GMC total sales gained 27% during the month.
Separately, GM said it has entered into an agreement to supply funds to Bright Automotive to speed development of a commercial plug-in hybrid vehicle. The investment will be made by GM's newly formed General Motors Ventures subsidiary.
Bright Automotive and GM signed an agreement last month, and GM began supplying funds this week, the companies said in a statement. The companies intend to complete formal agreements later this year, giving GM Ventures a minority stake in Bright Automotive. In turn, the Indiana company will gain access to GM's technologies, including advanced engine and transmission components, for its vehicle.