July 1, 2020 / 2:53 PM / a month ago

BRIEF-GM Delivers 492,489 Vehicles In Q2; Decrease In Total Vehicle Sales Of About 34%

July 1 (Reuters) - General Motors Co:

* GENERAL MOTORS CO - DELIVERED 492,489 VEHICLES IN THE SECOND QUARTER OF 2020, A DECREASE IN TOTAL VEHICLE SALES OF ABOUT 34 PERCENT

* GENERAL MOTORS CO - FULL-SIZE PICKUP TRUCK SALES PERFORMED EXCEPTIONALLY WELL IN QUARTER

* GENERAL MOTORS CO - OVERALL SALES SHOWED SIGNS OF RECOVERY, ESPECIALLY DELIVERIES TO RETAIL CUSTOMERS

* GENERAL MOTORS CO - Q2 RESULTS REFLECT PANDEMIC’S EFFECT ON DEMAND AND TIGHT INVENTORIES

* GENERAL MOTORS CO - ALL TRUCK, FULL-SIZE SUV PLANTS RETURNED TO THREE SHIFTS IN U.S.

* GENERAL MOTORS CO - DELIVERIES OF REDESIGNED PORTFOLIO OF FULL-SIZE SUVS UNDERWAY

* GENERAL MOTORS CO - DEMAND OUTPACED SUPPLY IN THE LATTER HALF OF THE QUARTER

* GENERAL MOTORS CO - RETAIL SALES WERE OFF BY ABOUT 24 PERCENT IN QUARTER, ROUGHLY IN LINE WITH THE INDUSTRY.

* GENERAL MOTORS CO - RETAIL SALES RECOVERED SIGNIFICANTLY IN MAY AND JUNE WITH YEAR-OVER-YEAR DECLINES OF AROUND 20% OR LESS

* GENERAL MOTORS CO - NEARLY ALL CAR AND CROSSOVER PLANTS RETURNED TO SAME NUMBER OF SHIFTS AS PRE-PANDEMIC LEVELS

* GENERAL MOTORS CO - MAJORITY OF U.S. PLANTS, INCLUDING ALL TRUCK & SUV PLANTS, WILL CONTINUE TO OPERATE DURING TRADITIONAL TWO-WEEK SUMMER SHUTDOWN

* GM - MAJORITY OF GM’S INCREASING OUTPUT WILL BE DEVOTED TO RESTOCKING RETAIL CHANNELS WITH CAPACITY MADE AVAILABLE BY LOWER RENTAL VOLUMES

* GM - COLLABORATING WITH LOGISTICS & TRUCKING COMPANIES TO ENSURE VEHICLES ARE SHIPPING AS SOON AS THEY ARE PRODUCED

* GM - ALTHOUGH ECONOMY HAS LONG WAY TO GO FROM VERY LOW BASE, VEHICLE SALES RESPONDED STRONGLY IN MAY TO EXPIRATION OF MANY STAY-AT-HOME ORDERS

* GM - EXPECT CONTINUED SALES RECOVERY AS BUSINESSES RAMP BACK UP, BUT RECOGNIZE THAT THE PATH FORWARD MAY NOT BE LINEAR

* GM - RISING INFECTIONS IN MANY STATES MAY LEAD TO STEPS BACKWARD IN REOPENING PROCESS Source text: bit.ly/2VEyuvM Further company coverage:

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