General Motors Misses February Sales Expectations
General Motors Company (NYSE: GM) reported on Tuesday that dealers in the United States delivered 231,378 vehicles in February.
Total sales were up 4.2 percent compared to a year ago, below expectations of 6 percent, while retail sales grew 1.4 percent.
In a press release, the company highlighted that sales of trucks, including SUVs, vans and pickups, were up 36 percent year-over-year and that commercial and fleet deliveries were up 12 percent.
U.S. vice president of Sales Operations Kurt McNeil said, "Our new SUVs and crossovers, combined with the three-pickup strategy we outlined more than a year ago, are dovetailing perfectly with the growing U.S. economy and a stronger job market."
Cadillac experienced a decline in retail sales of 18.4 percent year-over-year, the largest drop of the GM brands for February.
For CY2015, total sales were up 10.3 percent year-over-year and retail sales were up 7.0 percent year-over-year.
General Motors recently traded at $37.45, down 0.43 percent.
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