About 15 minutes ago, General Motors
(GM:
sentiment,
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options)
revealed its auto-sales numbers, noting that U.S. light vehicle sales dropped 16.2% to 257,638 units from 307,554 a year ago. Cadillac saw the smallest decrease, 4.1% to 61,024 vehicles. The Chevrolet division (GM's best) saw sales drop by 13.2% to 637,465 units for the month. Hummers took the largest hit, with sales dropping nearly 30% to 12,243 vehicles. Imagine that, sales fell on gas-guzzling SUVs ... interesting.
GM noted that roughly 130,000 units were lost in April, thanks to the American Axle strike. This strike has cost GM roughly 230,000 units since it started in late February. At last check, GM was more than 1% higher at $23.51 per share.
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