GM sales fall in Q3, but auto maker sees 'signs of recovery'
General Motors Co.'s third-quarter total auto sales fell 10%, but the company said there were "signs of recovery" in the auto industry and highlighted its September sales. GM said it delivered 665,192 vehicles in the quarter, a 10% drop compared with the year-ago period, but sales improved each month within the three-month span. The industry and GM sales "rebounded significantly in September, finishing the month with year-over-year sales increases," the company said. Retail sales also were a reason for optimism and GM said its pickup trucks and SUVs "are selling extremely fast." GM "remains focused on producing the right mix of vehicles to meet demand. Large pickup and full-size SUV plants are all operating on three shifts and at maximum overtime," it said. Shares of GM rose nearly 3% after the news. The stock has lost around 17% this year, contrasting with gains around 5% for the S&P 500 index.
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