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
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