(Reuters) – General Motors (NYSE:) reported on Tuesday a 2.2% decline in third-quarter sales of its new vehicles in the United States, pressured by fewer sales days in the three-month period and lower customer spending as due to inflation.
Buyers are shying away from big purchases, such as luxury vehicles, and are moving to utilitarian-oriented models that are more affordable.
Sales of GM’s compact, affordable Trax SUV rose nearly 57% to 59,299 units from a year earlier.
Total sales fell from a year earlier to 659,601 units. The Detroit automaker’s sales grew about 21% over the same period last year.
