GM Posts Third Quarter Sales Increase In Two Regions
Global sales for General Motors are off by 5.8% for the year, with North American and European operations putting the biggest drag on the automaker.
New cars sales for the third quarter were expected to be dismal and for General Motors that prediction has come to pass. However, when taking into consideration the company’s global sales, quarter over quarter sales were down just 11.6%, attributed mainly to sharp drops in its North American markets.
Outside of North America and Europe, the News Is Good
Yet, for GM several bright spots remain including the company’s performance in two regions of the world. In all, GM sales in Latin America, Africa and Middle East and Asia Pacific were up, resulting in the company selling 2.1 million vehicles for the July-September 2008 period.
“The recent challenges in the global financial markets, including credit tightening and the drop in commodity prices, have negatively impacted market demand. However, our sales performance shows that we are continuing to take advantage of new emerging market opportunities and are meeting customer needs with fuel-efficient products that offer compelling design and great value,” Jonathan Browning, vice president, global sales, service and marketing, said today.
“Our sales performance during the third quarter saw increases by Chevrolet outside North America and Wuling and GM Daewoo regionally,” Browning added.
Cadillac Sales Are Up — In Certain Regions
Cadillac sales outside of the United States grew 10.7% in the third quarter, supported by strong growth of the brand in Latin America, Africa and Middle East (up 10 percent) and Asia Pacific (up 39.2 percent). In Europe, Cadillac sales were off by 9.3% while in North America, Cadillac sales dropped nearly 28%, reflecting the trend felt by most buyers in the luxury vehicle segment.
Through the first nine months of the year, GM’s sales were 6.7 million units down by just 5.8% over the same period in 2007.
(Source: General Motors)
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[...] popular online. reddit learns what you like as you vote on existing links or submit your own!•GM Posts Third Quarter Sales Increase In Two Regions (autotrends.org)submitted 12 seconds ago by Matt1958commentsharesort [...]
GM is well known for its vehicles products and has the challenging role in the global financial markets.
Absolutely, Anderson. The challenge they have before them is tremendous, one that I certainly hope that they will be able to overcome.