GM Shines In July Sales Reporthttp://www.fool.com/investing/general/2013/08/01/gm-shines-in-july-sales-report.aspx Daniel Miller
August 1, 2013
Few companies maintain the level of anti-sentiment as General Motors (NYSE: GM) has since the recession and ensuing bailout. As many times as I hear, "I'll never buy a GM vehicle again," or "Government Motors is going to fail again," you'd think it would have an effect on the company's sales. Maybe it does, but you sure can't tell by its recent sales figures. Ford (NYSE: F) and GM both posted very solid second-quarter earnings, and started the third quarter with strong July results. Here's a look at GM's results.
"For GM, July was the most well-balanced month of the year from a retail sales standpoint: trucks were hot, but so were small cars and family vehicles," said Kurt McNeil, vice president, U.S. sales operations, in a press release. "Our experience shows that the difference between good sales and great sales in a slow-growth economy is how many new products you have to offer, and we are starting to hit our sweet spot."
There's a lot of very positive news in those quick-hit highlights, especially the increase in retail sales and decline in fleet sales. Fleet sales aren't all bad, especially when managed correctly; however, fleet sales represent 25.5% of GM's sales for the year -- investors were pleased to see that figure under 20% for July.
Looking at competitors, GM fared well with its 16% sales increase compared to rivals Honda, Toyota, and Ford, which posted inc