Shares of General Motors (GM) - Get Report seesawed Tuesday after the automaker reported a decline in vehicle deliveries for its first quarter of 2019, while some areas saw increases. First-quarter sales fell 7% vs. a "very strong" first quarter of 2018.
GM delivered 665,840 vehicles in the first quarter of 2019, a 6.98% decrease year over year. GM's average transaction price hit a record high of $35,881 in the quarter, which is a 2.68% increase over 2018's first quarter.
GM's worst performing product segment was its Buick segment, which saw a total delivery decline of 8.7%.
The company's worst performing vehicle was its Cadillac ATS, which saw deliveries fall 86% year over year. Several vehicles fell considerably, with the Cadillac XTS falling 23%. No Cadillac brands saw an increase in deliveries for the quarter.
On the positive side, the best-selling vehicle was the GMC Savana, which saw a 36% pop in deliveries.
GM's press release did mention, however, that total pick-up truck deliveries saw a 20% increase. Sports utility vehicles have become a popular product segment in the entire auto industry of late. Ford's (F) - Get Report President of Global Operations Joe Hinrichs told TheStreet in February, "you're seeing a stronger emphasis by a number of our competitors and ourselves on the SUV and truck segments because that's where customers have been going." Ford announced a $1 billion investment into its Chicago manufacturing facility in February as part of its push in the product segment.
General Motors shares are up 11.9% this year. The stock slid 0.20% to $37.69 a share Tuesday.
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