Investors Not Worried About GM's October Sales Number

General Motors Company GM reported October total sales of 258,626 vehicles representing a drop of 1.7 percent from the year-ago period.

• Retail sales grew 6 percent for Chevrolet in the United States, the best after 2004.
• Retail sales of Buick advanced 7 percent in the US, the best after 2003.
• Sold 208,290 vehicles to individual or retail customers representing 3 percent growth.
• Market share jumped 1.6 percent points to 18.1 percent in October driven by Chevrolet and Buick.
• GM gained market share in 16 of the last 19 months.

GM’s chief economist, Mustafa Mohatarem, commented, “Key fundamentals like job security, rising personal incomes, low fuel prices and low interest rates continue to provide the environment for a very healthy U.S. auto industry. The U.S. auto industry is well positioned for sales to continue at or near record levels for the foreseeable future.”

Following the news, the stock gained 0.8 percent to $31.86.