DETROIT -- General Motors' U.S. sales fell about 2.5-3 percent in April, the first month that the company has sat out public reporting of monthly data, people familiar with the matter told Bloomberg.
The result, shared by people who asked not to be identified because the information is private, is in line with analysts’ average estimate for a 2.9 percent decline. GM announced a month ago that it would switch to releasing U.S. sales on a quarterly basis.
GM’s drop was one of the better showings among the automakers in the U.S. It was a strong showing by the company because it also spent less on rebates and promotions in April, and there were two fewer days for dealers to sell cars than a year ago. GM has been trying to get better pricing for its vehicles and been prioritizing more profitable retail sales over market-share gains.
“They really pulled back on incentives,” said Michelle Krebs, senior analyst with researcher Autotrader. “They cut incentives by thousands of dollars on some models.”