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April 1, 2020, 10:48 a.m. EDT

GM's Q1 deliveries drop 7%, stock falls

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By Tomi Kilgore

Shares of General Motors Co. /zigman2/quotes/205226835/composite GM +1.93% fell 4.1% in morning trading Wednesday, after the auto maker said first-quarter deliveries fell 7% fomr a year ago to 618,335 vehicles. GM said the declines come as the auto industry experienced "significant declines" in March as a result of the COVID-19 pandemic. Deliveries fell for all of GM's brands, with Chevrolet down 3.8%, Buick down 34.7%, Cadillac down 15.8% and GMC down 5.5%. The model with the most deliveries was Chevrolet's Silverado LD, as that increased 33.6% to 112,925 vehicles, followed by the Chevy Equinox, which dropped 17.0% to 73,453 vehicles. GM said inventory at the end of the first quarter was 668,443 vehicles, down 18% from last year. GM's stock fell 43.2% over the first three months of the year, the worst quarterly performance since it began trading in its current form in November 2010, while the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.38% dropped 23.2% over the same time to suffer its worst quarterly performance since Q3 1974.

/zigman2/quotes/205226835/composite
US : U.S.: NYSE
$ 28.52
+0.54 +1.93%
Volume: 17.26M
Aug. 11, 2020 4:00p
P/E Ratio
27.15
Dividend Yield
0.00%
Market Cap
$40.04 billion
Rev. per Employee
$849,994
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
27,686.91
-104.53 -0.38%
Volume: 430.09M
Aug. 11, 2020 5:08p
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