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Toyota and Honda notched big US sales gains to start the year and General Motors grew retail deliveries as demand for lower-priced models help automakers defy expectations for a broad slowdown. Gabrielle Coppola has more.
General Motors Co. said Tuesday that its first-quarter U.S. sales dropped 1.5% year over year to 594,233 vehicles, due to lower fleet sales, and inventories continued to rise.
Small cars are outperforming, notes Morningstar's David Whiston. He and Kevin Roberts analyze the state of the auto sector.
The auto maker sells 594,233 vehicles in the period, down 1.5% year over year.
General Motors on Tuesday reported a 1.5% fall in first-quarter U.S. auto sales, hurt by lower deliveries to commercial customers.
The Detroit automaker said the decline was largely due to a 22.9% year-over-year decline in sales to fleet customers.
General Motors shares have seen a 26.9% increase in the last few months, handily outperforming the S&P 500. Analysts' ratings for General Motors have been mostly "hold" with only a few "buy" or "strong buy" ratings. Seeking Alpha's Quant Rating system gives General Motors a high rating, indicating strong valuation, growth, profitability, momentum, and EPS revisions.
General Motors Company (GM) reachead $45.40 at the closing of the latest trading day, reflecting a +0.11% change compared to its last close.
General Motors (GM) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
China's SAIC Motor aims to cut thousands of jobs this year at its joint ventures with General Motors and Volkswagen and at an electric-car unit, two people with knowledge of the matter told Reuters.