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GM's Third-Quarter Sales Rise 4 Percent

Reuters
Thursday, 18 Oct 2007 | 9:40 AM ET

General Motorssaid Thursday its global sales rose 4 percent to a record 2.38 million cars and trucks in the third quarter of 2007, driven by strong demand in emerging markets.

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During the third quarter, GM's sales in Latin America, Africa and the Middle East rose 22 percent, while sales in the Asia-Pacific region rose 16 percent, the company said.

The No. 1 U.S. automaker also posted a 15 percent sales increase in Europe during the third quarter.

However, the automaker continues to see sales decline in North America, its largest market.

GM said its sales in North America fell 6 percent during the quarter as compared to the same period a year ago.

GM blamed the decline on planned reductions in daily rental sales, softness in the U.S. market due to increasing fuel prices and concerns about the housing segment.

The automaker is in the middle of a sweeping restructuring that includes slashing more than 34,000 jobs and closing 12 plants in North America.

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