GM expects higher sales in third fiscal quarter, stock ascends 1.8 percent

General Motors expects the sales of its all-electric car Chevrolet Volt to  keep the upward trend through August. The monthly results are expected to arrive next week however, its shares rose almost 1.8 percent after the news.

Electric vehicles have been low in demand in parts because of the early technology and its pluses and minuses, and higher prices. An EV, despite the fact its exponentially fuel-efficient than a gas-based alternative, has an overall higher over-the-years investment.

Chevy Volt is GM’s flagship electric car and the company heavily relies on its sales in this category. Although the demand for such cars is very selective and sales are low, the company seen an increase in sales per month.

“The Chevrolet Volt continues to see month over month growth. We expect this trend to continue for August,” GM spokeswoman Michelle Malcho said in a statement and later cleared that she is talking about sales not production figures.

The company delivered 1,849 Volts in July, and 10,666 for the year which is an increase compared to the same period a year ago, when the deliveries accounted for 2,870. In terms of production, the company has rolled out 3,394 Volts in July and has put out 13,770 this year.

In the light of the above, GM sales department feels confident in averring increased sales figures.

The latest developments the company announced that it is temporarily halting production at Hamtramck-based plant for almost a month, starting from September 17 to October 15. The plant is the main production unit for Volts. The company did not respond on the production schedules. Their stated reason is overhauling and alternations at the plant to start the production of 2013 Chevrolet Impala.

“We don’t comment on production schedules. We are matching supply and demand, and are gearing up for production of the all-new 2014 Chevrolet Impala,” GM said in the statement.

Short URL: https://www.newspakistan.pk/?p=31906

Posted by Usman Khalid on Aug 31 2012. Filed under Automobiles. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.