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GM sales still surging, despite huge recalls

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GM sales still surging, despite huge recalls

General Motors seems to have made the right move when signing Mary Barra as the company chief executive; the first woman in the branch to gain this top position.

The executive – a GM “lifer” (a long running employee of the automaker) – seems to be successfully navigating so far throughout the year of the biggest recalls in automotive history – all triggered by the deadly ignition switch debacle. Analysts are now forecasting the CEO would soon announce the automaker’s second straight quarter of increased deliveries, with Bloomberg compiling an average climb of 2.7 % for its revenue.

“From a legal, fiduciary, protecting-the-franchise standpoint in the congressional testimony environment, I thought she was phenomenal,” said Adam Jonas, an analyst with Morgan Stanley. “She navigated a minefield in a way that was really, really good.”

Through June, GM’s sales rose 2.5% – the overall gain of the US auto market was of 4.3% – and the company’ shares rose 6.2% since February, when the recalls started for the 2.6 million cars equipped with potentially faulty ignition switches. Sales have been mostly buoyed by increased demand for the refreshed SUVs and large pickups. The positive results come even as the GM CEO has appeared in four congressional panel hearings and the automaker recalled a record 29 million cars in the US alone.

Via Bloomberg

by Aurel Niculescu (my Google+) - Wednesday, July 23rd, 2014 - filed under General Motors, Industry, News. Image credit: .
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