Sales of GM's Core Brands Rose 13%
DETROIT (
) --
General Motors
said sales rose 3.5% in October, while sales of its four core brands rose 13%.
Sales of the four brands -- Chevrolet, Buick, GMC and Cadillac -- rose to 183,392 units. Chevrolet sales rose 7% to 124,294 vehicles. Retail Chevrolet sales also rose 7%.
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"Our October results show that our focused plan is working, as our four brands continue to grow," said Don Johnson, vice president, U.S. sales operations, in a prepared statement. "Our sales are up more than double the industry's increase through October, and we've gained almost two points of market share."
Johnson said 2010 industry sales should total 11.5 to 12 million units. He said industry sales fell slightly from September.
Year-to-date sales for GM's four core brands increased 22% through October, while industry sales have increased by about 10.5%, the company said.
Hot vehicles included new crossovers -- Chevrolet Equinox, GMC Terrain and Cadillac SRX -- with sales up 58% from the same month a year earlier. Deliveries of the Buick LaCrosse and Cadillac CTS rose 37% and 45% from a year earlier.
Johnson said a rapid transition to 2011 vehicles means GM should gain retail market share in October, compared to September. "Of our October sales, 76% were new
2011 model year vehicles," he said. "This puts us in good position to continue growing while moderating our use of incentives."
Month-end dealer inventory stood at about 515,000 units, up 37,000 from September and 72,000 from the same date a year earlier.
-- Written by Ted Reed in Charlotte, N.C.
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Ted Reed
