Posts Tagged ‘0% percent financing’

GM’s June New Vehicle Sales Slump 34%. Industry SAAR Stuck at 10 Million Rate.

Camaro is bright spot with less than one week's supply.

by on Jul.01, 2009

Mark LaNeve Dealers for General Motors in the United States delivered 176,571 total vehicles in the month of June, down 33.6% compared with a year ago. Truck sales were down 40%, with car sales only dropping 24%. Retail sales accounted for 82% of the total, as fleet sales continue to be trimmed.

GM’s market share, based on preliminary numbers, appears to be over 20% for the third straight month, but the brands being phased out account for roughly 4% of that. (GM’s bankruptcy plan calls for an 18.5% share of market to even reach break-even.) And its advertising spending is down 50% compared with a year ago.

However, it appears that GM’s sales decline has not leveled out yet since the overall market is off about 28%, according to numbers from AutoData Corporation. And GM declined to give a third quarter production estimate.

GM sales executives remained optimistic, though, at the bankrupt automaker, pointing out that GM’s June retail sales had volume up 10% percent or more than 13,000 vehicles compared to May, resulting in the fourth consecutive month-over-month retail sales increase.  Camaro is clearly the hottest car in the market right now, with less than a week’s supply.