Thanks to a strong third-quarter sales push in the United States and China, which made up for declines in Europe and South America, General Motors Co’s worldwide sales climbed 4.6% in the first nine months of the year.
The biggest American automaker is fighting for the global reign against Toyota and Volkswagen AG – its third-quarter deliveries growing 5.5% to almost 2.4 million cars and trucks. The largest sales were accounted in North America and from the International Operations unit, which includes China.
The No. 1 U.S. carmaker had nine-month global sales of over 7.25 million units and the third-quarter growth made it past German rival Volkswagen AG as GM, Toyota and VW are locked in the three-way race for global sales supremacy. Toyota recaptured the annual global lead from GM in 2012 but GM edged out Toyota for the top spot in this year’s second quarter, slimming down the Asian automaker’s lead.
The Detroit company’s sales in North America were up 7.3% in the first nine months to around 2.45 million vehicles. Sales dipped 2.4% in Europe in that period to more than 1.18 million vehicles, and were off 2.1% in South America to almost 770,000 vehicles.
GM shares rose 1.5% to $35.66 at the close yesterday in New York. The shares have jumped so far 24% this year, compared with 22% for the Standard & Poor’s 500 Index.
Via Reuters, Bloomberg