GM Global Q1 Sales At 2.4 Mln Units - Update

(RTTNews) - General Motors Co (GM) said Thursday its dealers delivered about 2.42 million vehicles globally in the first quarter of 2014, up 2 percent year-over-year.

Among GM's top five global markets by volume, China posted the largest year-over-year sales increase, with deliveries up 13 percent to a record 919,114 units.

Meanwhile sales in North America declined 16,343 units at 745,123 units.

GM Europe sales totaled 337,545 units, up 2,435 units from last year. Sales in the United Kingdom and Germany were also up, and Opel/Vauxhall grew its share in 10 European markets.

GM South America sales slid 23,823 units to 211,046 units.

GM International Operations sales were 203,200 units, down 10,009 units from a year ago.

"We are very encouraged by our results in China, where we outperformed the industry, and in Europe, where Opel's sales and the economic outlook are improving at the same time," said GM President Dan Ammann.

"We continue to be optimistic about the United States because our award-winning new products are performing well and we have more on the way. South America continues to be challenging for Chevrolet, where we face currency and other challenges, especially in Venezuela."

In Europe, GM's improving market position is linked to the Opel Mokka and the new Insignia flagship sedan.

Among brands, Buick posted a 14 percent global sales increase to 294,957 units. Opel/Vauxhall sales were 275,676 units, up 12,037 units from a year ago.

Meanwhile Chevrolet sales declined 60,013 units to 1.12 million units. Cadillac sales climbed 9 percent to 58,945 units.

GM's global market share was 11.1 percent, which is down two-tenths of a point from a year ago.

However, Opel/Vauxhall gained market share in 10 European markets, including Germany. GM also gained market share in China due to the ongoing success of Buick and Wuling, as well as the growth of Cadillac.

GM stock closed Thursday at $33.98, up $0.01 or 0.03%, on a volume of 12 million shares on the NYSE.