General Motors Co. (GM) said Thursday its first-quarter total U.S. sales rose 4%, saying demand for its vehicles rose sharply. GM said it sold 642,250 vehicles in the U.S., with retail deliveries up 19% and fleet sales down 35%. "Over the last year, our dealers, supply chain and manufacturing teams have gone above and beyond to satisfy customers as demand for GM products rose sharply," GM executive vice president Steve Carlisle said in a statement. "Sales are off to a strong start in 2021, we are operating our truck and full-size SUV plants at full capacity and we plan to recover lost car and crossover production in the second half of the year where possible." GM's chief economist, Elaine Buckberg, said that consumer confidence and spending "will continue to increase" thanks to stimulus checks, rising vaccination rates, and the progressive reopening of the economy. "Auto demand should remain strong throughout the year," she said. In another sign of recovery, sales to small businesses, which are included in retail sales, increased 27% in the first quarter, thanks to sales of full-size SUVs, GM said. Shares of GM rose 0.5% after the sales news. The stock has gained 200% in the past 12 months, compared with gains around 62% for the S&P 500 index.
-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
April 01, 2021 11:37 ET (15:37 GMT)
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