LeftLaneNews

GM expecting "double-digit" January sales increase, boosts yearly forecast

Thanks to a rough 2009, General Motors announced this week that it expects January to mark the company's fourth straight month of increased sales. Additionally, General Motors raised its yearly sales forecast for 2010.

GM didn't reveal an exact percentage for its January sales increase, but did say it expects a "double-digit" increase over the same month last year. GM's January sales plummeted 48.9 percent in 2009, tallying 128,198 units sold.

Thanks to the market crash of late 2008 and 2009, January will mark GM's fourth straight month of improved sales. "We think this will be the fourth month in a row that our four brands ... have increased retail sales year over year, which is really good news," Mike DiGiovanni, GM's executive director of global market and industry analysis, told the Detroit Free Press.

Additionally, GM raised its yearly industry-wide sales forecast from 11 million to 12 million units to a higher range of 11.5 million to 12 million units. GM made the adjustment based on a stronger overall U.S. economy.

On a related note, analysts believe Toyot's recall problems could give a GM a 2.4 percent market share boost in the short-term. Final January sales figures are expected to be reported on February 2nd.