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UPDATE 1-Reuters Summit-GM's U.S. Nov sales at expectations-Lutz

Tue Nov 20, 2007 4:51pm EST
 
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(For other news from the Reuters Autos Summit, click here)

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By Jui Chakravorty

DETROIT, Nov 20 (Reuters) - General Motors Corp's (GM.N: Quote, Profile, Research, Stock Buzz) November U.S. sales, on average, are on track to meet its expectations, a top GM executive told Reuters on Tuesday.

"We are looking at the numbers for November and we are making our numbers," Bob Lutz, GM's chief of global product development, said at the Reuters Autos Summit in Detroit.

"Some days we are a little behind, some days we are a little ahead and some days we are lots ahead, so on balance to me it looks like we are making track," Lutz said.

GM's U.S. sales have slipped 5.7 percent this year amid a broader decline in car sales. New products such as the Chevrolet Malibu, which was launched this month, have received good reviews and should help drive demand, Lutz said.

"It could be that the market is off and we don't know it and that is going to result in a sensational market share but I don't think so," Lutz said, adding GM would likely maintain its current U.S. market share of about 24 percent through the year.   Continued...

 

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