NEW YORK (TheStreet) -- General Motors (GM) shares are down 0.2% to $32.25 in early market trading on Tuesday as the October European sales figures showed GM sales fell 5.1% from the same period last year to 69,421 vehicles sold during October, leading to a fall in market share to 6.5% from 7.3%.
General Motors shares are falling due to GM being the only major car company to record a net sales decrease in the region during the month, according to numbers compiled by the European Automobile Manufacturers' Association.
Conversely, there was a 6.2% rise in sales across the industry, which puts that market on course for the first overall annual gain in sales in seven years. Ford (F) reported a 4.2% rise in sales to 76,312, though its market share also decreased to 7.1% from 7.3% during the month.
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TheStreet Ratings team rates GENERAL MOTORS CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate GENERAL MOTORS CO (GM) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."