INTERNATIONAL - General Motors Co on Thursday reported that US new vehicle sales fell 2.7 percent in the fourth quarter, with declines across most of its brands as American auto sales appear set to weaken in 2019.
Sales were down at the automaker’s Chevrolet, Cadillac and Buick brands.
GM stock fell 1.8 percent to $33.02 in premarket trading.
GM posted significant declines for passenger car models as American consumers continued to abandon those models in favour of larger, more comfortable vehicles. But the No. 1 US automaker reported drops for some of those more popular larger vehicles.
Sales fell for the Chevrolet Suburban, the Cadillac Escalade and the GMC Yukon, all popular large SUVs that produce high margins.