General Motors sales rise 4.7 percent in October

DETROIT
Latest Business News, AP - 5 months ago

General Motors Co. says its October sales rose 4.7 percent over the same month last year, a sign that the U.S. auto market was starting a slow recovery from its yearlong slump.

The nation's largest automaker said it sold 176,632 light vehicles last month, up about 13 percent from September sales. That's when nearly all automakers reported dismal numbers because the government's Cash for Clunkers rebates pulled September buyers into July and August.

GM's news comes after Ford Motor Co. reported a 3 percent increase over October of last year, while Chrysler said its sales dropped 30 percent from October 2008.

Automakers are hoping that October sales are a sign that the U.S. economy is starting to improve from the worst market in more than a quarter century.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

DETROIT (AP) — Chrysler Group LLC says its October sales fell 30 percent below the same month last year. But they improved from September when the U.S. auto industry had a hangover from the government's summertime Cash for Clunkers program.

The maker of the Chrysler, Dodge, Jeep and Ram truck brands says it sold 65,803 vehicles last month, up 6 percent from September.

Chrysler, which is announcing a new product strategy on Wednesday, is aiming to show steady improvement from month to month as the U.S. economy starts to emerge from its yearlong slump. The automaker's sales dropped 42 percent in September following the end of hefty clunker rebates.

Ford Motor Co., meanwhile, reported a 3 percent rise in monthly sales over October of last year.