Auto sales were off 8.7 percent, while truck and SUV sales rose 8.4 percent.
GM sees the the industry's annualized sales pace, adjusted for seasonal trends, at 16.7 million vehicles for the month, according to Jim Cain, a company spokesman.
In February, auto sales remained flat amid incentive-splurge and the bump up provided by the President's Day holiday weekend. Also, there are 0 buy, 0 sell and 0 strong sell ratings, collectively assigning a 2.33 average brokerage recommendation. Sequentially, sales were up 12 percent. The full-size pickup truck is a key profit generator for the No. 2 USA automaker. Texas Yale Capital Corp sold 75,875 shares as Phillips 66 Partners Lp (PSXP)'s stock declined 11.51%. "But there are several areas of concern this year lurking just below the surface".
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Major U.S. automakers on Monday posted sales figures for March that came in below market expectations and heightened concerns the country's boom in vehicle sales may be losing steam, sending shares in auto companies down.
Tesla already has one plant for batteries in Nevada and another in Buffalo, New York, for solar panels. Nissan was once again led by the Rogue small SUV, which set a March sales record of almost 40,000 vehicles for a 20 percent increase. Among foreign automakers, sales rose 3.6% for BMW, 3.2% for Nissan, 2.6% for Volkswagen, 2.0% for Mercedes-Benz, but fell 0.7% for Honda, 2.1% for Toyota, 8% for Hyundai and 15.2% for Kia.
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General Motors Company has PE ratio of 5.89 with a one year low of $27.34 and a one year high of $38.55 and has a market capitalization of $0. Commercial deliveries were up 3 percent driven by a 67 percent increase in Malibu deliveries and strong pickup and large van sales. At Buick, the automaker said crossovers are expected to account for more than 75% of retail deliveries in 2017, up from 66% in 2016.
The news also weighed on vehicle retailer stocks.
But sales at Ford Motor Co (F.N) fell more than 7 percent to 236,000 vehicles, with fleet sales to rental agencies, businesses and government entities down almost 17 percent on the year. Shares of dealership conglomerate AutoNation (NYSE: AN) closed over 3 percent lower. Its F-series vehicles witnessed a 10 percent growth to 81,330 vehicles with overall average transaction price recording over $2,500. They expect $1.49 earnings per share, up 18.25% or $0.23 from last year's $1.26 per share. Fiat Chrysler said sales were down 5 percent on the year, though its popular Ram pickup was up 6 percent. Its Escape recorded 13 percent sales gain in the same period. With March 2017 having the same selling days as 2016, sales fell 2.1 percent on a daily selling rate basis. Overall, the Dodge brand saw a sales increase of 10 percent, while the Ram brand was up six percent.
Honda said its March sales fell just under 1 percent, dragged down by sagging demand for its Acura luxury brand.
Karl Brauer, executive publisher at auto industry consultancy Kelley Blue Book said while overall sales looked "healthy" in March discounts "have risen across the board, even on the same truck and SUV models that used to sell themselves".
General Motors Company closed its last trading session at $35.36 with the loss of -3.37%. Vanguard Group Inc owns $3.08 billion in General Motors Company, which represents roughly 6% of the company's market cap and approximately 7.89% of the institutional ownership. Westpac Banking holds 0% or 277,400 shares in its portfolio.