General Motors May Car Sales Modest, Predicts Return to Prerecession Sales Levels

  on June 01 2012 11:35 AM

General Motors Company (NYSE: GM) experienced modest U.S. sales gains of 10.9 percent in May with sales of 245,256 vehicles, the highest monthly volume for the company since August 2009, the company said Friday.

Detroit-based GM's May sales growth rate was less robust than rival Chrysler's, which gained 30 percent. However, GM's overall volume still far surpassed its smaller competitor. GM's small and compact cars outperformed the company as a whole with sales gaining 16 percent on demand for the new Chevrolet Sonic and Buick Verano.

Pickup sales were, as usual, big gainers for GM. Full-size pickup sales rose 23 percent, mid-size were up 34 percent, and SUVs were up 14 percent. GM, the nation's largest automaker, is currently estimating a seasonally adjusted annual rate of 14 million to 14.5 million, putting its estimate ahead of Chrysler's. GM says  it expects to approach prerecession sales levels during the 2012 and 2013 model years.

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