GM "sold" well in October without hiking promotions

|By:, SA News Editor

General Motors (GM +1.1%) appears to have picked up market share in the U.S. with several automakers falling short of analyst estimates for October sales, while GM boosted retail sales by 16% and saw pickups and SUVs sell well.

The automaker didn't push up sales tallies with increased promotions, according to data from TrueCar. Average transaction prices were up 7% during the month to a record $34,672.

If there is a nitpick, it's in the large jump in inventory as the industry calls cars sitting on a lot a "sale" which can lead to channel stuffing. Execs with GM have noted in the past that inventory levels can be "lumpy" and longer term trends need to be watched.