General Motors Sales Slump 6 Percent to End a Banner 2013
There were countless highlights for General Motors (NYSE:GM) in 2013, but December wasn’t a month to remember. The leading U.S. automaker reported a 6.3 percent drop in U.S. sales compared to December 2012 as every brand under the GM banner fell. Company officials shrugged off the slump and pointed to the robust 7 percent growth GM posted overall in 2013 while Chrysler (FIATY.PK) and Ford (NYSE:F) both showed strength at the year’s end.
By year’s end, GM sold 2,786,078 vehicles in 2013, which amounts to a 7.3 percent increase over the automaker’s performance in 2012. Introductions of the all-new Chevy Silverado, Chevy Impala, and (especially) the Chevy Corvette were largely successful. However, in a December, when the industry posted a 4 percent increase in sales, GM was left behind by U.S. and foreign competition.
The Chevrolet brand took the worst hit for GM, as its biggest brand dropped 8.1 percent in December compared to 2012. Buick also had a forgettable month, with sales falling 6.6 percent compared to December 2o12, and GMC and Cadillac posted losses of 1.8 percent and 0.5 percent, respectively.
Nonetheless, there were a few bright spots for General Motors in December.