General Motors Company (NYSE:GM) has announced that it sold more vehicles in the U.S. last month than in any September since 2008. GM posted a 1.5% increase over the prior year to 210,245 vehicles, led by passenger car sales.
In its press release, GM specifically mentioned strong sales for the Chevrolet Spark, Cadillac XTS, Buick Verano, Chevrolet Cruze and Chevrolet Sonic, – “and a second consecutive sales record for the Chevrolet Volt.” It also noted that deliveries of the all-new Cadillac ATS began in September.
Truck and SUV sales were down. And while GM noted an 8,600 reduction in large pickup truck inventories during the month, it’s still sitting on a 116 day supply. Its year-end target for this metric is 80 – 85 days which is still over what is generally considered to be normal.
Looking at stock prices over the past month and three month periods, GM has performed much better than Ford Motor Company, the S&P 500 and the Dow Jones Industrial Average.