GM Posts Best Sales Month in Year

Despite a 29.6% decline from 2008, the automaker delivered 191,875 vehicles in May, as volume rose by 11% or 19,000 cars from April.
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General Motors

(GMGMQ)

said its sales declined 29.6% in May, but the company nevertheless reported its strongest sales month of the year.

The automaker, which filed for bankruptcy protection Monday, delivered 191,875 vehicles in May as volume rose by 11% or 19,000 cars from April.

Mike DiGiovanni, executive director of global sales analysis, said industry sales grew 13% from April to May, surpassing the typical increase of 9% from April to May.

"We were able to record our best monthly sales result of the year in May as we are seeing more positive signs in housing and consumer confidence in the market," said Mark LaNeve, vice president, GM North America Vehicle Sales, Service and Marketing, in a statement. "Those signs, along with more clarity on the New GM, are providing some additional consumer confidence.

GM total truck sales (including crossovers) of 110,866 were down 22%, while car sales of 81,009 were off 38% from a year earlier. But LaNeve noted that GM sold 5,500 Camaros in May with no incentives.

GM inventories dropped 13% from a year earlier to 674,000 vehicles, their second-lowest monthly level on record. Inventories were reduced about 67,000 vehicles compared with April and are down approximately 16% from January.