GM: The Bright Spot in US Autos
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…
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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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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
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A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
