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GM sales benefit from Toyota woes | GM sales benefit from Toyota woes |
(41 minutes later) | |
General Motors (GM) saw its US sales rise 11.5% last month, as it benefited from customers abandoning Toyota over the Japanese firm's recall problems. | General Motors (GM) saw its US sales rise 11.5% last month, as it benefited from customers abandoning Toyota over the Japanese firm's recall problems. |
"We got what we thought was our fair share of Toyota sales," said Mike DiGiovanni, GM executive director. | "We got what we thought was our fair share of Toyota sales," said Mike DiGiovanni, GM executive director. |
Toyota is due to release its US sales figures for last month later. February was the first full month since it announced major recalls in January. | Toyota is due to release its US sales figures for last month later. February was the first full month since it announced major recalls in January. |
Car industry analysts are expected Toyota to report a big drop in sales. | Car industry analysts are expected Toyota to report a big drop in sales. |
Hyundai, the second carmaker to release its US figures for last month, said its sales jumped 23% last month. | Hyundai, the second carmaker to release its US figures for last month, said its sales jumped 23% last month. |
Most of the other major car firms are also due to release their February US sales figures later. | Most of the other major car firms are also due to release their February US sales figures later. |
Growing confidence | Growing confidence |
GM is in the process of discontinuing four brands - Saab, Hummer, Saturn and Pontiac. | GM is in the process of discontinuing four brands - Saab, Hummer, Saturn and Pontiac. |
When sales for these brands are excluded, those of its remaining core brands - Chevrolet, Buick, GMC and Cadillac - rose 32.2% in February. | When sales for these brands are excluded, those of its remaining core brands - Chevrolet, Buick, GMC and Cadillac - rose 32.2% in February. |
Susan Docherty, GM vice president for sales, service and marketing, said the firm's "solid" sales figures gave it a "a lot of confidence" that its efforts to revive its fortunes were continuing to gather speed. | Susan Docherty, GM vice president for sales, service and marketing, said the firm's "solid" sales figures gave it a "a lot of confidence" that its efforts to revive its fortunes were continuing to gather speed. |
However, earlier on Tuesday, GM announced that it was recalling 1.3 million small cars across North America because of a power steering problem that has been linked to 14 crashes. | However, earlier on Tuesday, GM announced that it was recalling 1.3 million small cars across North America because of a power steering problem that has been linked to 14 crashes. |
Four GM models are affected - the Chevrolet Cobalt, Pontiac G5, Pontiac Pursuit and Pontiac 4. | Four GM models are affected - the Chevrolet Cobalt, Pontiac G5, Pontiac Pursuit and Pontiac 4. |
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