General Motors Company Puts 2014 Sales 'Near High End' Of Earlier Outlook

General Motors Company GM said Wednesday that light vehicle sales for the year are now expected to be "near the high-end" of its full-year outlook set in January, which called for 16 million to 16.5 million units.

But the Detroit automaker also said deliveries fell one percent in August from a year earlier. Deliveries to consumers fell four percent, while fleet deliveries grew nine percent.

GM shares fell sharply earlier Wednesday, but had largely recovered by mid-morning, trading at $34.77, off 0.9 percent.

GM said its dealers delivered 272,423 vehicles in the United States in August.

Truck sales increased 18 percent, GMC deliveries grew 10 percent and commercial sales increased 30 percent.

Discounts, or "incentive spending" as a percentage of average transaction prices was 10.4 percent, down one percentage point compared with both August 2013 and July 2014 the company said.