GM Global Sales Slide Slows in 2nd Quarter
General Motors released its 2nd quarter global sales today, revealing a drop of 15.4 percent worldwide through the year so far compared to the same period last year. Despite the decrease, it seems the automaker’s sales slide has begun to slow substantially–the 15.4 percent drop is actually 20 percent less to the first quarter.
Asia continues to be GM’s only real bright spot. In that region, sales were up almost 38 percent, led by strong performances of its Buick (up 73.6 percent), Wuling (up 66.8 percent), and Chevrolet (up 16.7 percent) brands. GM sold 533,828 vehicles in its Asian market in the second quarter, compared to 387,067 vehicles the year before.
GM’s North American sales were down almost 32 percent compared with last year. Saturn, Saab, Hummer, and Pontiac sales were all down more than 40 percent. Of GM’s “core” brands, Cadillac saw the biggest decline–41.4 percent. Cadillac also retains that distinction on a global scale as well, with worldwide sales of the luxury division down 40 percent. Buick, Chevrolet, and GMC were each down more than 24 percent. GM has sold 1,157,023 vehicles in North America so far this year, down almost 40 percent compared with 2008.
GM says its market share in the U.S. has increased from 18.4 percent in the first quarter to 20.5 percent in the second quarter. In all of North America, its share increased two percentage points to 19.9 percent.
European sales are down 20 percent, with Cadillac and Saab suffering the biggest declines (43.8 and 62.7 percent, respectively).
Globally, GM’s market share decreased only 0.03 percent in the second quarter.