GeneralMoters Company (NYSE:GM) released sales data for January 2015 and showed a strong start to the New Year. Over 200k vehicles left the dealerships with new owners as the company ripped sales with an 18% same period gain. The internal numbers were even more encouraging as high profit vehicles made even bigger gains. Retail sales were up a solid 14% and fleet or wholesale sales climbed 32% when compared to the same period last year.
Company officials credited a growing economy that instilled buying confidence in consumers. Businesses are also doing better and that resulted in the strong fleet sales growth.
Pickup truck sales followed up a strong December by showing a 42% gain when compared to January 2014. This was after showing a 43% growth in December 2014. Full size trucks gained 22%.
SUVs and crossovers added another 36%. All in all it was a feverish start to the New Year and gave the company a head start on projections.
Analyst identify potential hold signals in GM.
Incentive Reduction
An important metric with car manufacturers is the relationship of dealer incentives. GeneralMoters Company (NYSE:GM) actually reduced incentives as a percentage of average transaction prices bolstering bottom line products. It also showed zeal from buyers as they were inclined to still purchase ofRegardlessincentives.Commercial vehicles extended its win streak to 15 months and continued to be a solid and consistent revenue source.
Global Leader
GeneralMoters Company (NYSE:GM) is continuing to reaffirm its status as the global leader in automobile sales. It Chevrolet division grew sales at a good 20% clip, including 25% from its popular Silverado truck line. Cadillac was a winner too. The maker of the escalade, a poplar SUV grew by 3%
Technical
The stock has shown some volatility lately but is still following the orderly pattern of higher highs and higher lows. This is productive and shows resilience in the issue. The news of strong sales certainly helped the issue. The stock recently violated its 100 day moving average but bounced right back above it as is a healthy indication of orderly trading.
