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Friday, January 29, 2010
http://detnews.com/article/20100128/AUTO01/1280480/1148/auto01
Last Updated: January 28. 2010 3:48PMGM predicts double-digit rise in January sales
Robert Snell / The Detroit News
General Motors Corp. predicts it will post a double-digit sales increase this month, compared to January 2009, and increase market share.
GM also has raised its 2010 industry forecast to reflect higher anticipated sales because of encouraging signs of economic and industry recovery. GM thinks the seasonally adjusted annual rate will reach 11.5 million to 12 million vehicles, up from a range of 11 million to 12 million.
Growth in emerging markets such as China, Brazil and India is leading a global economic recovery and demand for U.S. exports, said Mike DiGiovanni, executive director, global market and industry analysis.
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GM predicts its January retail sales will be down slightly, but that it will have higher fleet sales.
DiGiovanni estimates GM cars and crossovers could account for 67 percent of January sales and that Chevrolet, Buick, Cadillac and GMC will post increased retail sales compared to January 2009.
About 98 percent of GM sales will be from the four remaining core brands. GM is phasing out or selling Saturn, Pontiac, Saab and Hummer brands.
GM's U.S. sales dropped 30 percent last year, and its U.S. market share fell to 19.8 percent from 22.2 percent in 2008, according to Autodata Corp.
The Detroit automaker is still trying to boost supplies of some of its most popular models.
GM North America President Mark Reuss said this month the automaker could reopen some factories that were shuttered last year, but he offered no specifics. The Detroit automaker is facing a shortage of vehicles, such as the Chevrolet Equinox, GMC Terrain and Cadillac SRX.
Increasing production could help in the automaker's quest for a larger piece of the vehicle market. So could Toyota Motor Corp.'s recall of 2.3 million vehicles, which has forced the automaker to stop selling eight models.
GM is offering the Japanese automaker's customers discounts if they trade in their vehicles.
Until the end of the month, GM will give zero percent financing for up to 60 months to customers who trade in a Toyota for a new GM car or truck. The company also will make as many as three payments, for a total of up to $1,000, for Toyota lease customers.
It's offering $1,000 discounts to cash buyers.
GM could get a temporary boost in market share of 2.4 percent because of Toyota's woes, according to Barclays Capital analyst Brian Johnson.
rsnell@detnews.com (313) 222-2028
via detnews.com
GM continues to move in the right direction as sales numbers continue to improve.
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