California Autos Examiner

Tuesday, July 01, 2008

Market Cuts Losses Due to Stronger Than Expect GM Sales

US STOCKS-Market cuts losses on GM's June sales Markets Bonds News Reuters

"U.S. stocks cut losses on Tuesday, after General Motors reported stronger-than-expected June sales, somewhat easing concerns about the impact of high fuel prices on profits."

When is a an 18.5 percent (unadjusted) sales decrease a good thing? When analysts were expecting an even higher number. This makes Ford the older brother who comes home with an F on the report card and catches your parent's wrath. By the time you walk in the door, your D+ suddenly doesn't look that bad and you emerge relatively unscathed.

Chevrolet Malibu total sales were up 95 percent with retail sales up 129 percent, Cobalt sales were up 37 percent total and 27 percent retail, HHR was up 39 percent total and 70 percent retail, Equinox was up 64 percent total and 42 percent retail. Cadillac had a strong performance with CTS total sales increasing 31 percent and a retail increase of 10 percent compared with the same month a year ago. SRX and STS both had 26 percent total sales increases. Sadly, Saturn only shifted 888 copies of the Astra.

You can view GM's full report by clicking here.

No comments: