GM’s third-quarter US sales fall about 2%
11:19 am Tuesday, October 01st, 2024
(Reuters) – General Motors reported a 2.2% fall in third-quarter sales of its new vehicles in the United States on Tuesday, pressured by fewer sales days in the three-month period and lower customer spending due to inflation.
Buyers have been shying away from big-ticket purchases such as luxury vehicles and switching to utilitarian focused models that are more affordable.
Sales of GM’s compact affordable Trax SUV rose nearly 57% to 59,299 units from a year earlier.
Overall sales fell to 659,601 units from a year earlier. The Detroit automaker’s sales had grown about 21% during the same period last year.
(Reporting by Nathan Gomes in Bengaluru; Editing by Shinjini Ganguli)
