DETROIT, MI – General Motors Co. says its October sales rose 4.7% 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% increase over October of last year, while Chrysler said its sales dropped 30% 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.