GM Q3 U.S. Vehicle Sales Up 7.7%

(RTTNews) - General Motors reported U.S. vehicle sales of 710,347 units in the third quarter, up 7.7% from 659,601 units a year earlier, reflecting continued strength in both electric and gas-powered vehicles.

GM set a new quarterly record for electric vehicle sales in third quarter, delivering 66,501 units. Industry-wide EV sales also surged, driven by strong consumer demand and the appeal of the $7,500 federal tax credit.

Total dealer inventory stood at 527,063 units, representing a 16% decline year-over-year. The company remains on track to meet its calendar year-end target of maintaining a 50 to 60-day supply.

There were 77 selling days in the third quarter of this year, compared to 76 selling days in the same quarter last year.