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General Motors July Sales Up 9%, Slightly Missing Street Views

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General Motors (NYSE: GM) sales grew slightly slower than Wall Street forecasts to nine percent in July, including a four percent gain in sales to retail customers, according to figures releases Friday.

Analysts had forecast GM's July sales growth of 9.2 percent.

Commercial deliveries were up 69 percent and all other fleet deliveries were up 21 percent.

“GM and the U.S. economy left July carrying good momentum,” Kurt McNeil, vice president of U.S. sales said. “The economy has bounced back and the stage is set for strong sales through the balance of the year."

Total Chevrolet deliveries were up eight percent, led by trucks and crossovers, with a four percent increase in retail car sales.

Chevrolet Corvette deliveries more than tripled for its best July since 2004, and the Camaro was up 25 percent, for its best July since 1995.

The Volt was up 13 percent, the Malibu was up nine percent and Sonic was up six percent. Silverado sales were flat with a year ago.

Buick had its best July since 2006, with sales up eight percent.

Every GMC nameplate posted a sales increase, including the new Sierra, driving sales 22 percent higher. GMC had its best July since 2006.

Average transaction prices were flat compared with June 2014, and up more than $2,000 per unit versus a year ago.

GM traded recently at $33.43, down 1.15 percent.

Posted-In: auto sales Kurt McNeilNews Retail Sales Econ #s

 

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