* Sales up 4 pct overall, retail sales up 15 pct
* First year-over-year monthly increase since Jan 2008
* Sees signs of recovery in US economy, auto industry
DETROIT, Nov 3 (Reuters) - General Motors Co [GM.UL] on
Tuesday posted a 4 percent U.S. sales increase for October, its
first year-over-year gain since January 2008, and said the U.S.
economy and car industry were showing signs of recovery.
GM said total sales rose to 177,603 vehicles in October
from 170,585 a year earlier, with its Chevrolet, Cadillac, GMC
and Buick brands accounting for about 95 percent of the
automaker's retail sales.
The automaker, which emerged from a government-funded
bankruptcy in July, said the U.S. auto industry's annualized
sales for the month of October would be the strongest month
since November 2008 excluding July and August, which were
supported by government "cash for clunkers" incentives.
(here)
Still, the October annualized selling rate is the
second-lowest October since the early 1980s, GM noted.
The automaker cut its North America fourth-quarter
production plan to 620,000 vehicles from 655,000 vehicles to
take into account the shutdown of the Saturn brand following
the collapse of a deal to sell it to Penske Automotive Group.
(PAG.N)
GM is in the process of dropping its Pontiac and Saturn
brands and plans to sell its Saab and Hummer brands in its
restructuring. Those four brands combined accounted for 9
percent of October sales.
(Reporting by David Bailey, editing by Matthew Lewis)
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