General Motors thinks its US market share could rise to 20% in May, boosted by increased supply of top selling models, more advertising and attractive credit offers from its financing partner, the chief of its North American operations has said.
“The industry is not strong, but we are leveraging our strengths,” Mark Reuss, GM North America president Mark Reuss told the Wall Street Journal (WSJ) in an interview. He added GM’s US market share could reach 20% this month, after hitting 18.7% in April and 17.6% in March. In May 2009, GM had market share of 20.6%.
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Reuss said GM had increased production of popular models such as the Chevrolet Equinox and Cadillac SRX crossovers, and the Buick LaCrosse sedan which had been in short supply in recent months.
The company is also able to offer more competitive financing from Ally Financial, he told the WSJ, partly because GM vehicle residual values are improving and new models are selling well. Ally was previously known as GMAC once owned by GM.
Reuss also told the paper the improvements in sales were coming without the large sales incentives it regularly used in the past.
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“This is a good indication we are really doing this and we are not going to have to use a bunch of parlour tricks to get there,” he said.
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