General Motors Company : GM January U.S. Sales Rose 16% as All Brands Post Solid Gains
02/01/2013| 10:18am US/Eastern
By Melodie Warner
General Motors Co.'s (GM, GMM.U.T) U.S. auto sales rose 16% in January as all of its brands posted double-digit percentage increases.
Results matched expectations from car-shopping website Edmunds.com.
Broadly, U.S. new-auto sales for January are expected to increase 15% from a year earlier and drop 23% from the prior month, according to Edmunds.
GM reported it sold 194,699 vehicles in January, up from 167,962 a year earlier and 21% below December's total of 245,733.
Chevrolet sales were up 11%, as GMC sales increased 23%. Total Buick sales climbed 32%, and total Cadillac sales jumped 47%.
Month-end dealer inventory in the U.S. stood at 737,885 units, up 2.9% from the prior month.
January had 25 selling days this year and 24 selling days a year ago.
GM reported in October its third-quarter profit dropped 13% amid widening losses in Europe and higher warranty expenses in North America, although the auto maker still beat analysts' expectations on better-than-expected financial performance in some of its international operations.
Earlier Friday, Chrysler Group LLC reported its U.S. auto sales rose 16% during the month, driven by jumps at its namesake and Dodge brands, while Ford Motor Co.'s (F) U.S. new-vehicle sales rose 22%, as gains by its namesake brand continued to offset declining Lincoln sales.
GM shares were recently trading 26 cents higher at $28.35. The stock is up 10% over the past three months.
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