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General Motors Reports February Deliveries Up 46% (GM)Mar 01, 2011 (SmarTrend News Watch via COMTEX) -- General Motors (NYSE:GM) said U.S. deliveries for the month of February were up 46% from a year ago, well above the 36% increase analysts expected. Excluding sold or discontinued brands, sales were up 49% from February of last year. GM increased lease offerings in the month, and kept up the incentives it used in January to top the rest of the industry's sales gains, said VP of U.S. Sales Don Johnson. The company's finance unit offered leases in twice the number of states as a month earlier and partners such as Ally Financial made more competitive offers to dealers. "Our marketing momentum is building, our dealer strength is building, and our financing capabilities through GM Financial and Ally are building," Johnson said yesterday at GM's headquarters. "Those are the things that will allow us to dial back a little bit on incentives and maintain our momentum." Other major auto-makers saw big gains in the U.S. market as well: Ford's sales were up 10%, Chrysler's 13%, Nissan's sales of Nissan and Infiniti brand vehicles rose 32%, and Hond's sales were up 22%. GM is trading down 2.3% at $32.77 per share. General Motors has a potential upside of 33% based on a current price of $32.76 and an average consensus analyst price target of $43.57. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.TradeTheTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.TradeTheTrend.com/signup |