GM's 2Q Sales See Record Crossover Volume
Automakers reported June 2018 U.S. light-vehicle sales that got help from an extra selling day this June. The seasonally adjusted annualized selling rate came in at 17.47 million, compared with 16.72 million in June 2017. Total sales came in at 1.55 million, a 5.2% increase from June 2017; however, we calculate a 1.3% rise after adjusting for the extra selling day. We think the industry had a good month and the trend toward light trucks over cars continues. Ford's U.S. sales head Mark LaNeve sai...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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