Auto sales: GM up 5%, gain beats Ford, not Chrysler

Fred Meier and James R. Healey
1:39PM EDT November 1. 2012 -

General Motors' said today its U.S. sales in October were up 5% from a year ago to 195,764, the best October since 2007.

It said the increase was driven by growth in sales of passenger cars (up 15%), compared with gains for crossover SUVs (up 3%) and full-size pickups (up 8%). Overall truck sales fell 2%, in part due to closing out the current mid-size pickups, with the replacement not yet on sale in the U.S.

"We are becoming an even more formidable competitor in every segment – not just traditional GM strongholds like trucks," said Kurt McNeil, head of U.S. sales operations.

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And in a shift in sales mix that could boost profits, GM also said that its retail sales rose 7%, while fleet sales were trimmed 5%.

Driving car sales growth GM said, was a 37% gain for Cadillac cars, 27% for Buick cars and 12% for Chevrolet. It also said sales of mini, small and compact cars rose 72%, with the Chevy Cruze, up 34%, the volume leader.

Chevy also sold 2,961 Volt extended-range electrics.

Looking at the industry overall, McNeil sees continued strength. "The light vehicle selling rate has increased for eight consecutive quarters without a tailwind from the residential housing sector but that is starting to change," he said in a statement. "If these trends continue, housing may be the final piece of the puzzle that lifts sales above 15 million units on an annual basis just as GM prepares to launch even more new cars, crossovers and trucks."

GM see this year ending with industry sales of 14 to 14.5 million. GM has said it will replace 70% of its U.S. nameplates with refreshed of redesigned vehicles over the course of 2012 - 2013.

Auto sales: GM up 5%, gain beats Ford, not Chrysler