GM Sales Fall 31% in December

DETROIT -- General Motors (GM Quote) said Monday its December U.S. sales fell 31%, as the recession and tight credit markets continued to stymie vehicle sales industry wide.

GM sold a total of 220,030 light vehicles, down 31.2% from 319,837 in the same month last year.

The recent month's results were boosted by heavy sales incentives that included financing offers announced near the end of the month after the Treasury Department said it would give $5 billion in federal aid to GM's ailing financing arm GMAC.

Car sales fell 24.9% to 87,506, but the total included a 42.6% jump in Malibu sales to 17,355 units and an 18.8% increase in Impala sales to 21,148.

Light truck sales fell 25% to 132,524 units and included a 66.1% plunge in demand for the TrailBlazer to 4,087 vehicles and a 34.4% drop in Sierra sales to 12,980.

For the full year 2008, GM sold 3 million vehicles, down 23% from 3.8 million the year before.

GM shares rose 14 cents, or 3.8%, to $3.78 in afternoon trading.