General Motors reported first-quarter sales fell 7% from a year ago but said buyers are flocking to its more expensive sport utility vehicles and pickup trucks.
CNBC reported that transaction prices, the final sales price, on the company’s newest pickups rose $8,040 compared with the outgoing models in the same quarter of 2018, reflecting the continued interest among buyers for well-equipped trucks. More than 96% of the GMC Sierra crew cab pickup, a four-door full-size truck, were sold with more expensive high-end trims.
Signs have shown that new car sales are slowing in the United States. Yet demand for trucks and SUVs, which tend to be more profitable, could buoy automakers and somewhat offset the effects of a slowdown . Trucks, SUVs and crossovers made up 80% of GM’s sales, the company said.
The company said sales of smaller crossovers such as the Chevrolet Trax and Equinox, as well as its midsize Chevrolet Colorado pickup, all set first-quarter sales records, while the GMC Acadia SUV had its best quarter ever.
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