GM Eyes Sales Increase for First Time in 21 Months

Rough times seem to lay behind now, as American carmaker GM buzzes with excitement at the possibility to report its first profitable month for nearly two years. According to Mike DiGiovanni, GM's executive director of global market and industry analysis, there's "a good chance" GM will post year-over-year sales increase in the US for the first time since January 2008.

DiGiovanni estimates the seasonally adjusted annual sales rate for the US industry will reach 10.5 million light vehicles, the first month to do so since October 2008 (aside for the months when CARS was in effect).

“It's still pretty bad. This is still levels we haven't seen since the early ’80s,” DiGiovanni was quoted as saying by Autonews, at a meeting with reporters. “But clearly it's better than where we've been.”

The American manufacturer hopes for a 20 to 21 percent market share, ahead of rival Toyota by only three points and in line with September's 20.9 percent market share.

When it comes to leasing, GM's new vice president of US sales, Susan Docherty, said the company managed to achieve a 0.2 percent penetration this month. Not a bad share, given GM's recent return to the market. The goal is, Docherty says, to bring GM back to 7 to 10 percent, still down from the 20 to 22 percent it had before GMAC left the leasing market.

“I don’t want to be overreliant on leasing,” she told the source. “The minute you do that, you start hurting your residuals.”