GM’s Halftime Report: Sales Remain Above Water Despite Record Recalls
General Motors (NYSE:GM) has been busy crunching its numbers from throughout the first six months of the year from around the world, and the results are in. Global sales, including the company’s international subdivisions and joint ventures, are up 0.5 percent over the same six months of 2013, to 4.92 million vehicles. In North America, the figure stood at 2.51 million.
Impressively, GM was able to keep its sales above water even as it initiated the recalls for nearly 30 million vehicles. That’s not just a company record — that’s more than the entire automotive industry initiated in all 12 months of last year.
“GM did well in the world’s two largest and most profitable vehicle markets and that helped us grow despite very challenging market conditions in parts of South America, Asia and Eastern Europe,” CEO Mary Barra said in the company’s statement.
U.S. sales rose 6.7 percent during the second quarter, greatly contributing to a North American gain of 5.6 percent. Along with China’s sales gains, General Motors’ sales stayed positive despite declines in Brazil (down 8.6 percent) and European economic powerhouse Germany (down 0.5 percent).