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GM says its US sales rose 10 percent in June
http://www.msnbc.msn.com/id/43605129/
DETROIT — General Motors said Friday its U.S. sales rose 10 percent in June as lower gas prices brought more customers into its showrooms.
The Detroit car company says it sold 215,000 cars and trucks last month.
Sales were led by smaller, more fuel-efficient models, but GM says cheaper gas also lured more truck buyers. Chevrolet Silverado sales rose 5 percent and GMC Sierra sales rose 8 percent compared with a year earlier.
The new Chevrolet Cruze compact led GM's sales gain. Cruze sales were more than double those of the old Chevrolet Cobalt. GM's small-car sales were helped by earthquake-related shortages of Japanese cars.
GM is one of the first car companies to report U.S. sales on Friday. Industry analysts expect overall U.S. sales to rise 13.5 percent from last June.
Analysts expected automakers to sell around 1.1 million vehicles in June, up 13.5 percent from last June. The results indicated that the industry's recovery was back on track after floundering in May because of earthquake-related shortages and few deals.
Incentives lured some car buyers. Automakers spent an average of $2,165 per vehicle on deals last month, according to Edmunds.com. That was slightly more than in May, when incentive spending fell to its lowest level in six years. Toyota Motor Corp., looking to stop a sales slide due to earthquake-related shortages, boosted incentives by 31 percent between May and June. Honda Motor Co. promised buyers that if they order a Honda now, they will get current lease deals, cash back and other incentives when the car is delivered. Honda is anticipating shortages of its new Civic small car for the next several months because of supply issues in Japan.
Falling gas prices also improved buyers' moods. Gas was $3.57 per gallon in the last week of June, down from a national average of $3.90 in May. Jesse Toprak, vice president of industry trends and insights for TrueCar.com, said buyers went for bigger vehicles, with sales of pickups and SUVs rising at a faster pace than sales as a whole.
That was partly because small, fuel-efficient cars remain in short supply. Automakers started June with around a month's worth of inventory of subcompact and compact cars because of the earthquake and manufacturing constraints, and the situation didn't improve as the month went on, according to George Pipas, Ford's chief U.S. sales analyst. Pipas said buyers who want those cars appear to be waiting to get them instead of settling for something bigger.
DETROIT — General Motors said Friday its U.S. sales rose 10 percent in June as lower gas prices brought more customers into its showrooms.
The Detroit car company says it sold 215,000 cars and trucks last month.
Sales were led by smaller, more fuel-efficient models, but GM says cheaper gas also lured more truck buyers. Chevrolet Silverado sales rose 5 percent and GMC Sierra sales rose 8 percent compared with a year earlier.
The new Chevrolet Cruze compact led GM's sales gain. Cruze sales were more than double those of the old Chevrolet Cobalt. GM's small-car sales were helped by earthquake-related shortages of Japanese cars.
GM is one of the first car companies to report U.S. sales on Friday. Industry analysts expect overall U.S. sales to rise 13.5 percent from last June.
Analysts expected automakers to sell around 1.1 million vehicles in June, up 13.5 percent from last June. The results indicated that the industry's recovery was back on track after floundering in May because of earthquake-related shortages and few deals.
Incentives lured some car buyers. Automakers spent an average of $2,165 per vehicle on deals last month, according to Edmunds.com. That was slightly more than in May, when incentive spending fell to its lowest level in six years. Toyota Motor Corp., looking to stop a sales slide due to earthquake-related shortages, boosted incentives by 31 percent between May and June. Honda Motor Co. promised buyers that if they order a Honda now, they will get current lease deals, cash back and other incentives when the car is delivered. Honda is anticipating shortages of its new Civic small car for the next several months because of supply issues in Japan.
Falling gas prices also improved buyers' moods. Gas was $3.57 per gallon in the last week of June, down from a national average of $3.90 in May. Jesse Toprak, vice president of industry trends and insights for TrueCar.com, said buyers went for bigger vehicles, with sales of pickups and SUVs rising at a faster pace than sales as a whole.
That was partly because small, fuel-efficient cars remain in short supply. Automakers started June with around a month's worth of inventory of subcompact and compact cars because of the earthquake and manufacturing constraints, and the situation didn't improve as the month went on, according to George Pipas, Ford's chief U.S. sales analyst. Pipas said buyers who want those cars appear to be waiting to get them instead of settling for something bigger.
If well all just take a look back, it's relatively easy to see that the big 3 auto producers money problems are cyclical. Look at Chrysler before Iacocca got on board. But these "private sector entities" are a lot like what's happening in government.
Whether or not anyone paid the money back, if they continue to run these businesses the same way, they are sure to fall on economical hard times. BAd business decisions are abundant when times look good.... plenty of money to go around, so the bonus's get bigger, the unions press for higher wages...... then the bottom falls out and every one of these same people are walking around wondering what went wrong.
Whether or not anyone paid the money back, if they continue to run these businesses the same way, they are sure to fall on economical hard times. BAd business decisions are abundant when times look good.... plenty of money to go around, so the bonus's get bigger, the unions press for higher wages...... then the bottom falls out and every one of these same people are walking around wondering what went wrong.
GM actually never did pay pack the Government (or should I say Tax Payers). All they did was shuffle Tax Payer money around to give the illusion that they paid us back. Ever heard the saying, “Robbing Peter to pay Paul”. This is robbing “Peter to Pay Peter.”
With very little research you will find it. Here is just one of many
http://reason.com/archives/2010/04/27/gms-phony-bailout-payback
It looks more like a Ponsey Scheme that involves the Fed. Government than a payback. How can you pay back the Government with money from the Government
With very little research you will find it. Here is just one of many
http://reason.com/archives/2010/04/27/gms-phony-bailout-payback
It looks more like a Ponsey Scheme that involves the Fed. Government than a payback. How can you pay back the Government with money from the Government
@ sweetpea, I think they are private b/c they've repaid their debt back to the government...(I think..I'll check and make sure:-)
@ El...LOL you make me laugh!!
@ El...LOL you make me laugh!!
Oooh, oooh... gas prices went down! I think I'll go out and buy a car!!!
~Seriously? Are there really folks out there that watch the price of gas, and decide whether to buy a car, or not, based on what the price of gas is on a given day? My mind is officially boggled.
~Seriously? Are there really folks out there that watch the price of gas, and decide whether to buy a car, or not, based on what the price of gas is on a given day? My mind is officially boggled.
Didn't GM just go back to being owned by the private sector, no longer by the government? I wouldn't be surprised that they can handle the company better and sell more cars than the government.
Guess the auto bailout wasn't a bad idea after all....
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