It is a sign of the times in which gasoline prices have raced toward $4 and could go higher as summer travel season approaches, or trouble in the Middle East boosts oil. As it announced that March sales rose 12% compared to the same month as last year to a total of 231,052 vehicles, sales of high mileage cars surged.
GM (NYSE: GM) reported
The monthly total includes a record 100,000 cars and crossovers that achieve an EPA-estimated 30 mpg highway rating or better.
Part of the strength of GM’s numbers can be attributed to small cars in general:
Total GM passenger car sales increased 22 percent, with small and compact car sales up a combined 62 percent. Compact crossover sales were up 47 percent and mid-size car sales were up 38 percent. Full-size pickup sales were up 14 percent.
Sales of Chevy, the manufacturer’s largest brand were up 16.5% to 173,073
Douglas A. McIntyre