GM vehicle sales up 4 per cent at 9.71 mn
15 Jan 2014
General Motors Co's global vehicle sales rose 4 per cent over 2012 at 9.71 million in 2013, as robust US and Chinese markets made up for softer European region that plagued the auto maker all year.
Sales in North America, primarily driven by the US, were up 7 per cent to 3.23 million units, even as international operations at the company registered 3.89 million vehicle sales for the year.
According to commentators, the results offered a view into the auto maker's financial health and pointed to the possibility of the automaker issuing positive outlook for the year when it announces its 2014 forecast today.
The Detroit-based auto maker may be expected to share a taste of its success by declaring a dividend or announcing a stock buyback analysts say.
Forecasters see the US notch up another strong year of car sales this year, while the European economy showed signs of bottoming out and a small recovery on the way.
However, whether that would suffice for GM to overtake Toyota Motor Corp was still a question. Japan's Toyota regained the title of the world's largest auto maker in 2012 clocking sales of 9.75 million vehicles.
But GM has stiff competition from rival Volkswagen, the third biggest carmaker and Toyota.
GM has been facing stiff competition from rival Volkswagen – and Toyota, the largest automaker.
The company recently appointed Mary Barra as chief executive, the first female chief at a US car maker.
General Motors continues to retain the top spot as the largest US auto firm, followed by Ford and Chrysler in second and third position.
The latest figures come following General Motors reporting car sales falling in December 2013, in what was a disappointing month overall for the car industry in the US.
GM reported a 6.3 per cent sales drop as against December 2012.
GM was bailed out by the US government in 2009 at the height of the financial crisis, with the US Treasury spending $49.5 billion, taking a 61-per cent stake in the company.
At the end of 2013, the US government sold its remaining shares in GM losing $10 billon on the bailout.