Monday, March 31st, 2008

GM posts drop in U.S. sales

DETROIT (Reuters) - General Motors Corp (GM.N: Quote, Profile, Research) on Monday posted an adjusted 16 percent drop in light vehicle sales for February and said it would cut second-quarter production by 5 percent from year earlier levels.

The No. 1 U.S. automaker said it sold 268,737 cars and light trucks in February, compared with 308,411 a year earlier. Before adjusting for the number of selling days, that represented a 13 percent decline.

GM’s truck sales dropped by nearly 23 percent when adjusted for an additional sales day in February compared with a year earlier.

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