General Motors (GM-NYSE) shares just launched on the FEB auto numbers.  It was assumed of a drop, yet the total US sales rise was listed as 3.4% to 311,763 cars and trucks.  Retail sales made up for fleet declines.  Expectations were for drop almost to the tune where Ford and Chrysler sales came in.  Its precious truck/SUV sales posted a 7.4% gain and the cars slid just over 3%.

It is also decreasing production to 1.175 million cars and trucks in the quarter.

GM shares are now up almost 2% at $32.75.  Shares of Ford (F) are still down 0.4% and shares of DaimlerChrysler (DCX) are still down 0.8%.  Maybe things aren’t as bad as the market thought.  GM is still a DJIA component.  The DJIA is barely down on the day now.

Jon C. Ogg
March 1, 2007