General Motors Reports Third-Quarter Sales Decline

(Reuters) – General Motors (NYSE:GM) reported a 2.2% drop in third-quarter sales of new vehicles in the United States on Tuesday, impacted by fewer sales days in the quarter and reduced consumer spending due to inflation.

Shift in Buyer Preferences

Consumers have been avoiding large purchases, such as luxury vehicles, and are opting for more affordable, utilitarian models.

Notable Sales Increase

Sales of GM’s compact and affordable Trax SUV surged nearly 57%, reaching 59,299 units compared to the previous year.

Overall Sales Figures

Total sales decreased to 659,601 units from the previous year, contrasting with a 21% increase during the same period last year.