General Motors Corp. said Tuesday its U.S. sales fell sharply in November due to a "significant" drop in retail demand and "continuing economic uncertainty" that has negatively affected consumer confidence.
Sales last month fell 41.3 percent to 154,877 vehicles, with auto volumes down 44.1 percent to 58,786 and truck volumes down 39.4 percent to 96,091.
"In November we saw the continuation of the dramatic decline in volume for the industry. Every manufacturer is posting awful numbers and we are no exception," Mark LaNeve, vice president, GM North America Vehicle Sales, Service and Marketing, said in a statement.
+ Nov.2008 Auto Sales: U.S. Likely to See 25% Drop Again
+ Nov.2008 Auto Sales: Japan Hits 49 Year Low
+ Nov.2008 Auto Sales: Toyota/Nissan Led Biggest Drop in Japan in 39 Years
There were a few bright spots: Sales of the company's Chevrolet Malibu improved 31.3 percent over the November 2007 level to 9,469 and hybrid sales are increasing.
So far this year, GM has sold nearly 2.8 million vehicles, down 22.1 percent from the first 11 months of last year.
GM shares fell 5 cents to $4.54 in afternoon trading.
