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5 Jan, 2021
By Darragh Riordan
General Motors Co. on Jan. 5 reported that sales in the fourth quarter of 2020 rose 4.8% year over year to 771,323 vehicles.
Retail sales grew 12% during the period, marking the company's best fourth quarter in the segment since 2007. A 10% drop in Buick sales was offset by growth at all other brands, led by a 10.4% increase in deliveries of GMC trucks and SUVs.
Despite the stronger fourth quarter, full-year sales fell 11.8% to 2,547,339 units. However, GM estimates that it gained market share in both the fourth quarter and calendar year.
The carmaker said average transaction prices reached fourth-quarter and full-year records at $41,886 and $39,229, respectively. GM noted that fleet sales "are recovering but remain sharply lower, especially daily rental deliveries."
"GM outperformed the industry in the quarter and the full year by a significant margin because our manufacturing and supply chain teams and dealers helped keep people safe at work and our launches on track," said Steve Carlisle, GM executive vice president and president of GM North America.
The company reduced its inventory by 205,148 units year over year to 410,875 vehicles as of the end of 2020.
Shares of GM were up 2.4% at $41.49 in early afternoon trading.