AdvtAdvtJoin the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. Sales in its international unit, however, fell 7,000 to 140,000, the company said.Early in the year GM predicted that prices would drop 2% to 2.5% this year, but so far that hasn't materialized, Jacobson said. The company, he said, has seen strong sales of higher-priced pickup trucks and larger SUVS.Industrywide, US buyers paid an average of $47,616 per vehicle in June, down 0.7% from a year ago, according to Edmunds.com. "To date, what we've seen in July so far, is it looks very, very similar to June," Jacobson said. The annual spending on marketing, though, will still be lower than in 2023, he said.GM spent $500 million during the second quarter on its troubled Cruise autonomous vehicle unit, $100 million less than a year ago.

Source: Economic Times July 23, 2024 23:20 UTC