GM Car Sales Fell 18% in April
{{#rendered}} {{/rendered}}General Motors Corp. Tuesday said U.S. April sales fell 7 percent, driven by a slump in car sales which offset a slight increase in demand for its new line of full-size sport-utility vehicles.
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Results are not adjusted for the extra selling day in April 2005.
{{#rendered}} {{/rendered}}The world's largest automaker said it sold 345,404 vehicles last month.
GM's U.S. car sales fell 18 percent in April, offsetting a 2 percent rise in truck sales.
GM, which lost $10.6 billion in 2005 and has been losing U.S. market share to foreign rivals, pulled back aggressively on low-margin sales to fleet operators last month and saw its newly launched line of SUVs buck an industrywide downward trend in that segment.
{{#rendered}} {{/rendered}}Analysts have said both moves bode well for GM's attempt to reverse losses in the U.S. market, even as the No. 1 automaker loses share to Japanese rivals.
The Chevrolet Tahoe, GMC Yukon and Cadillac Escalade — GM's new line of SUVs — combined for a 15 percent sales gain in April, the company said.