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GM Sales Drop 23 Percent
Tuesday, November 01, 2005
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DETROIT — General Motors Corp. (GM) on Tuesday said its U.S. vehicle sales fell for the third straight month, slipping 23 percent in October as gasoline prices continued to hurt demand for big sport utility vehicles.
Aftershocks from the hurricanes, concerns about jobs and the lack of big consumer incentive programs have also been cited by analysts for poor October sales at the world's largest automaker.
GM (search) sold 257,623 vehicles last month, compared with 346,058 for the same period last year.
Sales had increased in June and July as the company offered an employee discount program (search) that allowed anyone to buy a vehicle for the same price that GM's employees pay.
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