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GM sales drop 15%, but up from previous quarter

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Old 07-22-2009, 11:12 AM
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GM sales drop 15%, but up from previous quarter

http://www.detnews.com/article/20090...evious+quarter
General Motors Co. reported this morning it sold 1.94 million vehicles globally during the second quarter, down 15 percent from a year earlier due to continued economic pressures and a drastic cut in vehicle production.

But compared to the first quarter, sales were up almost 20 percent.

Through the first six months of the year, GM sold 3.55 million vehicles, down 22 percent compared to last year.

Meanwhile, sales outside the U.S. rose to 72 percent of the automaker's total sales, compared to 65 percent a year ago.

Sales in Asia rose 38 percent, but GM posted double-digit drops in sales in the other three regions, led by a 32 percent decline in North America.

The European market fell 20 percent while sales declined almost 21 percent in GM's Latin America, Africa and Middle East region.

"We believe the strength of our products, including the Chevrolet Camaro, Spark and Malibu; award-winning Opel/Vauxhall Insignia; Wuling Sunshine Minivan and others around the world enabled us to weather an historically difficult rebirth of the new General Motors," said Jonathan Browning, vice president, global sales, service and marketing. "We are moving quickly to respond to new market opportunities around the globe and meeting customer needs with fuel-efficient products that offer advanced technology, compelling designs and great value."

GM, which filed Chapter 11 bankruptcy on June 1, emerged from federal bankruptcy court on July 10 after a rapid restructuring and $50 billion in federal aid.

GM lost its title last year as the world's largest automaker by sales when it was overtaken by Toyota Motor Corp.
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