It was an excellent year-end quarter for the automaker companies with General Motors Company (NYSE:GM) outperforming market expectations. This was the best year for the auto manufacturer industry in terms of its sales in December since 2006.
General Motors had an excellent year with the increasing sales of its large pickups and sports-utility vehicles. It was the best December of General Motors Company (NYSE:GM) in the last seven years and the company delivered 274,483 vehicles in the U.S. The net sales of the company were up 19% as compared to the previous year period.
Kurt McNeil, U.S. VP of Sales Operations for GM, said, “Chevrolet was strong in every segment of the market, from pickups and SUVs to cars and crossovers. Buick and GMC also had strong sales across the board, and our growth far outpaced the industry average.”
While talking about the sales in December and the expectations for the upcoming year, Maryann Keller, Stamford, Connecticut Automotive consultant, said,
“It’s a very good sales month. The biggest challenge for this year will be sustaining the sales pace. We will see more incentives this year and they will be much more visible to consumers.”
Market experts are ready for growth in sales in 2015 primarily because of the strengthening job market, low gasoline prices, and availability of credit. The overall sales figure for light-vehicles stood at 16.5 million in 2014 because of the favorable last quarter.
While talking about favorable conditions, McNeil added,
“Everything you need to have a great month was in place: Consumers felt good about the direction of the economy, interest rates and fuel prices were low, and our dealers did a great job introducing customers to our incredible range of new and redesigned vehicles.”
The shares of General Motors Company (NYSE:GM) are trading at $34.33.
This article has been written by Prakash Pandey.