GM sales drop 25 percent over last August

Cadillac sales were up 83 percent followed by a 66 percent increase in sales of Buick, boosted by a twofold increase in retail sales last month. GMC showed an increase of 12 percent while Chevrolet, which benefited most from last year’s federal stimulus, saw sales drop off 22 percent, with retail sales off 31 percent. 

“Last year’s ‘cash for clunkers’ program spiked industry sales in 2009, so results this August were not surprisingly a bit mixed,” Don Johnson, GM’s vice president for U.S. sales operations, said in a statement. 

“Importantly, three of our four divisions showed solid gains. This is further evidence that our performance is the result of balanced contributions across our brands.”

GM’s overall drop in sales was further aggravated by ending sales of its Saturn, Pontiac and Hummer brands and by selling Saab. 

Last month, GM filed plans for an initial public stock offering to allow the federal government to sell off its stake in the company.