GM sells 9.09 million autos in 2006
Associated Press
DETROIT — General Motors Corp. said Wednesday it sold 9.09 million cars and trucks worldwide in 2006, a nearly 1 per cent decline from 2005, as sales in the U.S. faltered.
The world's largest automaker sold 9.17 million vehicles in 2005.
Its biggest rival, Toyota Motor Corp. of Japan, has said that it expects final totals to show it sold 9.04 million vehicles in 2006.
GM, which is struggling with lagging sales and a corporate restructuring, attributed the decline in part to planned cuts of 75,000 vehicles in daily rental fleet sales. Meanwhile, sales of Chevrolet-brand vehicles in the U.S. slowed to 4.3 million in 2006 versus 4.37 million a year ago.
GM in 2006 sold more cars and trucks overseas than it did at home. While sales contracted in the U.S., sales abroad rose roughly 7 per cent from the prior year. The company sold 4.2 million vehicles outside the U.S. in 2006, which accounted for about 55 per cent of global sales — up roughly 7 per cent from 2005.
Sales grew 18 per cent in GM's Asia-Pacific market and 17 per cent in its Latin America, Africa and Middle East region.
The company is facing fierce competition from foreign rivals. Last month, Toyota set a target to build 9.42 million vehicles in 2007.
GM hasn't disclosed 2007 production estimates, but chairman and CEO Rick Wagoner has said the company has capacity to produce more than 9.42 million vehicles worldwide.
GM shares rose 15 cents (U.S.) to $31 in pre-market activity.
