General Motors' High-Profit Trucks and SUVs Led a Fourth-Quarter Sales Gain
General Motors (NYSE: GM) said this morning that its U.S. sales rose 5% in the fourth quarter from a year ago, as it sold over 770,000 vehicles thanks to its best retail result in over a decade.
The result didn't entirely offset the sales that GM lost while its factories were shut down by the COVID-19 pandemic earlier in 2020. But it did help: While GM ended the year with its total U.S. sales down 12% from 2019, that was due in part to lost commercial-fleet deliveries; its retail deliveries were down just 6% from the year prior.
Of interest to auto investors, GM's sales gains were led by some of its most profitable products, a good sign for the fourth-quarter earnings report, expected on Feb. 10.
Source Fool.com
