Report: General Motors will boost its retail U.S. market share in October
By Andrew C., 27 Aug, 2010. 0 Comments
GM Logo
General Motors Co. is banking on the sales of its new vehicles and increased ad spending to widen its retail US market share in October, according to Edmunds, the consumer auto site.
GM is believed to claim 22.4% of sales to individual U.S. customers, up from 19.1% from July through September. Edmunds has also estimated that the October seasonally adjusted annual rate of sales will be in the low 10 million units. However, that figure is an improvement over September's 9.5-million-unit rate.
In October, GM's product launches include the new Chevrolet Equinox crossover, the Cadillac CTS sports wagon and the Buick LaCrosse sedan, which are in important volume segments.
In a statement, Edmunds.com CEO Jeremy Anwyl said that GM's decision to raise advertising spending has already resulted to its getting a lot of attention.
Since GM launched its 60-day money-back guarantee program on September 14 and has had a series of TV spots featuring new Chairman Ed Whitacre, GM has sold about 150,000 retail vehicles.
Vice Chairman Bob Lutz confirmed these numbers at a press gathering last week. [via edmunds]
Latest Auto Shows
