GM Q3 U.S. Sales Jump 9% on Pickup and SUV Strength
GM sits 42% above its 52-week low of $54.33 on light trading volume (0.3× avg).
Summary
GM's Q3 U.S. sales fell 5.5% year-over-year, driven by strong pickup and SUV demand. Full-size pickups gained 5%, with Silverado up 13%, and the small SUV lineup posted its best quarter ever with a 27% jump. Fleet sales hit a record for full-size pickups, and inventory ended at about 568,000 units, on track for 50-60 days supply. This follows Q2's strong beat and raised guidance, reinforcing the company's momentum in its core North American business. Next-gen full-size pickups are slated to reach showrooms by year-end, a key product cycle event.
At the time of this announcement, GM was trading at $77.39 on NYSE in the Manufacturing sector, with a market capitalization of approximately $67.9B. The 52-week trading range was $54.33 to $91.85. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.