GM delivers 7% less vehicles due to COVID-19
General Motors Co. said on Wednesday that the company delivered 618,335 vehicles in the first quarter, which represents a fall of approximately 7%. The fall of demand happened due to coronavirus spread. Inventory at the end of the first quarter was 668,443 units, down about 18% from a year ago
Kurt McNeil, United States vice president of sales operations said that “in this uncertain and challenging time, GM and our strong network of dealers are here to help, offering concierge service, providing courtesy transportation to customers in need and offering home delivery where permissible.”
The company said last week it decided to suspend its 2020 outlook by drawdown around $16 billion from its revolving credit facilities to boost its “cash position and preserve financial flexibility.”
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