GM cuts industry U.S. sales outlook for 2007
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General Motors Corp.  on Friday cut its outlook for industry-wide U.S. auto sales in 2007, estimating annual sales of about 16.8 million vehicles, down from an earlier forecast of 17 million units.
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DETROIT -- General Motors Corp. and Ford Motor Co. reported disappointing US sales yesterday, prompting the nation's two largest automakers to cut planned vehicle production in the fourth quarter, which could hurt profits.
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General Motors Corp. narrowed the  gap with top seller Toyota Motor Corp. in the first half of  2007 thanks to a solid second quarter, although demand  continued to fall in its home North American market.
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General Motors Corp.  on Thursday posted slightly stronger quarterly earnings, but the results were at the low end of its own forecast and the company cut its earnings outlook for the year due to slower growth in Asia-Pacific and mounting losses in Europe.
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General Motors Corp  said on Thursday its U.S vehicle sales fell 5.2 percent in December as consumer demand softened amid a weak housing market and higher gas prices.
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General Motors Corp on Wednesday reported worldwide sales of 9.37 million vehicles in 2007, coming in just ahead of Japanese rival Toyota Motor Corp in a closely watched race for the top spot in global sales.
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A recovery in the economy later this year will keep U.S. vehicle sales from plunging as deeply as the most bearish forecasts suggest, according to an outlook released on Sunday by the group representing U.S. auto dealers.
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General Motors Corp.  on Tuesday  said U.S. sales fell 24 percent in June, a decline much larger  than analysts expected.
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General Motors Corp  Chief Executive Rick Wagoner said on Thursday the No. 1 U.S. automaker expects overall 2008 U.S. auto sales to be about the same as the depressed levels of 2007, even as global sales hit a new high.
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General Motors Corp  expects the  U.S. auto industry to increase incentives and promotions to  maintain sales above the 16 million mark in 2008, GM's North  American sales chief told Reuters on Tuesday.
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General Motors Corp. GM.N on Thursday  posted disappointing quarterly earnings and cut its full-year  profit forecast amid slowing growth in China and European job  cuts, sending its shares down 4 percent.
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General Motors Corp. is prepared to nearly halve the number of Buick models it offers in the United States as it tries to reestablish the luxury brand in its home market, GM's chief executive said on Tuesday.
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General Motors Corp. GM.N and Ford  Motor Co. F.N said on Wednesday they would cut production  more than expected after weak U.S. sales in November, a move  that analysts said could hurt profits.
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General Motors Corp. GM.N and Ford  Motor Co. F.N are expected to announce further cuts in  vehicle production levels this week as they move to trim  inventories of unsold cars and trucks following weak sales,  analysts said.
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U.S. manufacturers expect the economy to  slow in 2007, as the weakening housing market continues to take  a toll on business, according to data released on Thursday.
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General Motors Corp.  on Tuesday posted a 6 percent drop in U.S. vehicle sales for December, ending a year when it lost more than 1 percentage point of U.S. market share.
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General Motors Corp. will have a tough  time posting stronger U.S. sales in December, a top GM  executive said on Friday, but the automaker is determined to  stop any further loss of U.S. market share.