The 2020 Chevy Silverado 4x4 Customized Crew CabMack Hogan | CNBCDETROIT – General Motors' gross sales slipped in 2019 because it discontinued some
The 2020 Chevy Silverado 4×4 Customized Crew Cab
Mack Hogan | CNBC
DETROIT – General Motors‘ gross sales slipped in 2019 because it discontinued some fashions and demand for its worthwhile pickups and full-size SUVs fell.
GM on Friday stated it bought practically 2.9 million automobiles final yr, a 2.3% decline in contrast with 2018. That features a drop of 6.3% to 735,909 automobiles within the fourth quarter from the final three months of 2018.
Shares of GM had been down 3% to round $36.25 on Friday afternoon.
The Detroit automaker’s outcomes are consistent with analysts’ expectations for the corporate, nonetheless worse than the 1% decline expected for the overall industry in 2019.
GM bought greater than 1 million crossovers for the second yr in a row, a rise of 12.7% from 2018. That wasn’t sufficient to make up for the 30.5% decline in passenger automobiles and a 2% slide in vans, which embrace pickups, fulls-size SUVs and vans.
“We have centered our assets on what our clients need – crossovers and vans – and that has paid off,” Kurt McNeil, vp of U.S. gross sales operations at GM, said in a release.
Within the fourth quarter, GM stated crossover gross sales rose 5.8% whereas demand for passenger automobiles plummeted 35.1% and vans declined 5.9%.
Gross sales for the corporate’s Buick, Cadillac and GMC manufacturers had been flat or barely up for 2019, whereas the corporate’s largest model, Chevrolet, declined 3.8%. Most…