Automobile Sales at Five-Year High for General Motors

2013-Cadillac-CTScoupeAutomaker General Motors Co. (NYSE: GM) said today that May automobile sales rose 3% this year, compared with May of 2012. The company sold a total of 252,894 vehicles in May, about 6,300 more than total May sales at Ford Motor Co. (NYSE: F), which reported May sales earlier today.

GM's sales growth beat an estimate of 1.9% from auto industry information site Edmunds.com. April was a soft month for sales, but May appears to have picked up the slack. Edmunds expects sales from all automakers to rise 11% month over month.

The largest increase came in GM's Cadillac division, where total sales jumped 40% year over year. Buick sales were down 3.1% year over year, and Chevrolet had its best retail sales month in nearly four years.

Year to date, GM's total sales are up 8.3% and retail sales are up 10%.

At Toyota Motor Corp. (NYSE: TM), U.S. sales rose 2.5% in May to 207,952 vehicles, up from April's total of 176,160. The weaker yen also has pumped up the Japanese carmaker's profits, which are expected to rise by more than 40% in 2012.


Filed under: 24/7 Wall St. Wire, Autos Tagged: F, featured, GM, TM
Read Full Story

Markets

NASDAQ 6,426.92 4.23 0.07%
S&P 500 2,502.22 1.62 0.06%
DJIA 22,349.59 -9.64 -0.04%
NIKKEI 225 20,296.45 -51.03 -0.25%
HANG SENG 27,880.53 -229.80 -0.82%
DAX 12,592.35 -7.68 -0.06%
USD (per EUR) 1.19 0.00 0.03%
USD (per CHF) 0.97 0.00 0.01%
JPY (per USD) 111.98 -0.01 0.00%
GBP (per USD) 1.35 0.00 0.07%

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.