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GM Q2 U.S. Sales Down 34%

General Motors (GM) said Wednesday that it delivered 492,489 vehicles in the second quarter of 2020, a decrease of about 34 percent from last year, reflecting Covid-19 pandemic's effect on demand and tight inventories.

The company stated that the industry experienced significant declines due to the outbreak of COVID-19, but full-size pickup truck sales performed exceptionally well, and overall sales showed signs of recovery, especially deliveries to retail customers.

Retail sales were off by about 24 percent in the quarter. Retail sales in April were down the most in the quarter, off by about 35 percent compared to last year, but recovered significantly in May and June with year-over-year declines of around 20 percent or less.

The majority of GM's U.S. plants, including all truck and SUV plants, will continue to operate during the traditional two-week summer shutdown.

In, the majority of GM's increasing output will be devoted to restocking retail channels with capacity made available by lower rental volumes.

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