GM May U.S. sales fall 13%

General Motors Inc. said Wednesday it sold 190,613 vehicles in the U.S. in May, down 13% from the year-earlier period. The decline was mostly due to the fact there were two fewer selling days in the month compared with May of 2015 and tight supplies of new models. “The demand has been so strong for our new launch products, there’s no question we could’ve sold more, however, production was impacted at Fairfax, Lordstown and Spring Hill by the Japanese earthquakes,” said Kurt McNeil, GM vice president of sales operations. Shares are down 11.5% in the year so far, while the S&P 500 has gained 2.1%.

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From:: Stock Market News

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