GM's Strong March Sales Led by Crossovers; All Four Brands Strong Contributors
Automakers reported March U.S. light-vehicle sales on April 3 that gave us no new concerns about the health of the U.S. auto industry. The seasonally adjusted annualized selling rate was 17.49 million versus 16.82 million in March 2017. Total sales grew 6.4% year over year to 1.66 million, but we calculate a 2.6% rise adjusting for one extra selling day this March. Incentives are likely still high based on recent dealer comments, GM’s incentive spending as a percentage of average transaction pri...General Motors designs, builds and sells trucks, crossovers, cars and automobile parts. The company also provides automotive financing services through its subsidiary, General Motors Financial Company, Inc. (GM Financial). GM Financial provides retail loan and lease lending across the credit spectrum. GM Financial provides commercial lending products to dealers including new and used vehicle inventory floorplan financing and dealer loans, which are loans to finance improvements to dealership facilities, to provide working capital, and to purchase and/or finance dealership real estate. Other commercial lending products include financing for parts and accessories, dealer fleets and storage centers.
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