GM reports best June sales since 2007
NEW YORK (CNNMoney) — General Motors on Tuesday reported its best June sales since 2007, even as the company reels from millions of recalls.
Sales last month rose 1% compared to a year earlier, surprising analysts who had expected a drop.
“June was the third very strong month in a row for GM, with every brand up,” said Kurt McNeil, U.S. vice president of Sales Operations. “In fact, the first half of the year was our best retail sales performance since 2008, driven by an outstanding second quarter.”
GM said Buick had its best June since 2006. Deliveries were up 18 percent, compared to the same period last year, driven by an 82% increase in sales of the Encore, its small crossover SUV. Buick also saw a 33% increase for its LaCrosse sedan and a 26% increase for the Regal.
“I’m pleased with the numbers across the board. I was looking for GM’s June sales to be down 5 or 6%,” said George Magliano, auto economist at IHS Global Insight.
General Motors has come under criticism for a decade-long delay in publicly revealing an ignition switch flaw that resulted in at least 13 deaths and numerous injuries. The company retained attorney Ken Feinberg to develop a victim compensation plan, which he outlined Monday.
The automaker has been aggressively pursuing quality issues in its vehicles. On Monday, GM announced that is was recalling 8.4 million vehicles. That latest recalls means the automaker has, in just half a year, recalled nearly as many vehicles as the single-year record for all automakers.
The sum of vehicles recalled Monday amounts to the company’s largest single day of recalls this year. In addition to ignition switch recalls, the automaker is recalling vehicles for faulty wiring and fasteners.