General Motors Co.'s (GM) global third-quarter vehicle sales are expected to rise 5.5% from a year earlier as the Chevrolet brand records a 12th consecutive quarter of year-to-year sales growth.
The world's largest auto maker reported preliminary sales of 2.4 million vehicles for the quarter, including a record 1.25 million Chevrolets, representing growth of 0.6%.
"In the third quarter we were able to attract more consumers to the brand thanks in large part to the launches of several new vehicles including the Corvette, Silverado, and Spark EV," said Alan Batey, senior vice president of Global Chevrolet.
The faster-than-expected auto-industry rebound in the U.S. has been a bright spot for U.S. and other car makers coping with slumping demand in Europe and uncertainty in some big developing markets.
Overall, GM's sales volume in North America rose 6.5%, while sales for its international operations--which include Asia-Pacific, Africa and the Middle East--rose 8.4% and European sales improved 4.2%. However, sales in South America were down 4.2%.
Chevrolet sales volume in the U.S., the brand's largest market by that measure, grew 4.2% during the quarter, while sales in Mexico, its fifth-biggest market, were up 7.8%. However, sales in its other top five markets--Brazil, China and Russia--declined.
GM reported in July a 24% drop in its second-quarter profit, although the company beat Wall Street expectations amid financial strength in North America and a much narrower loss in Europe.
The company plans to release its third-quarter financial results Oct. 30.
Shares were at $35.51 recently, up 1.1%.
Write to Tess Stynes at firstname.lastname@example.org
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(END) Dow Jones Newswires
October 17, 2013 12:35 ET (16:35 GMT)Copyright (c) 2013 Dow Jones & Company, Inc.
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