NEW YORK (TheStreet) -- General Motors Co. (GM) stock is decreasing 2.70% to $32.41 in early afternoon trading on Tuesday after the company reported a 5.7% year-over-year increase in U.S. sales for December, falling short of Bloomberg estimates of a 10% gain.
The automaker delivered 290,230 vehicles, with retail sales rising 8.2% to 241,724 cars last month.
Total sales for 2015 were up 5% to 3.08 million vehicles, driven by the Chevrolet and GMC brands. Sales of Chevrolet vehicles increased 4.5% last year, while GMC sales gained 11.3%.
"I'm firm in my view of 'Peak Autos,' based on the notion that liberal financing over the last five years has substantially pulled forward car sales," Kass wrote on his Real Money blog. "I also think that the coming mobility and autonomous-car markets pose substantive threats to the industry."
On Monday, GM announced the company will invest $500 milling in Lyft and collaborate on an autonomous vehicle system with the ride-sharing service.
Additionally, GM's board appointed CEO Mary Barra as chairman. She replaced Theodore Solso, who will remain with the company as lead independent director.
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