General Motors Co. is predicting an increase in its US market share and annual sales rate for the month of November. Mike DiGiovanni, executive director of global market and industry analysis, said that they expect GM’s market share in the US to rise for the fourth consecutive month in November. He also forecasts that the US industry’s seasonally adjusted annual sales rate this month would approach or slightly exceed 11 million units. Continued after the jump!

GM emerged from bankruptcy in July and had then recorded an 18.9% share.. In October, GM’s share hit 21.1% and this month, the company expects a boost in demand. DiGiovanni also disclosed that GM had posted its first year-over-year sales gain since January 2008, calling November “a solid month.”

In August, the national sales rate hit its highest point at 13.7 million due to the Cash-for-Clunkers program but in October, GM recorded a very respectable 11.2 million rate. According to the Automotive News Data Center, this only comes in second to the August figure. GM’s October calculation is actually lower than that of Automotive News but that is to be expected since calculations for seasonally adjusted annual sales rates differ by research group.

GM provides total-vehicle sales rates, which are typically 200,000 to 300,000 units higher than light-vehicle demand.

[via autonews]

Tags: car news, general motors, GM, gm news, gm shares increase

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