“When you look back to where we were in March and how dismal things looked, it’s incredible how strong the year ended,” said Michelle Krebs, senior analyst at AutoTrader.
GM made the announcement Tuesday alongside a release of its own fourth-quarter sales figures.
It doesn’t mean that auto sales are all the way back: Fleet sales, which typically make up about 20% of overall US sales, are still way off, GM said. That’s especially true for sales to rental car companies
, which account for roughly half of fleet sales.
At GM (GM)
specifically, fourth-quarter sales were up nearly 5% from a year ago — but it’s not a fair comparison, as GM’s fourth quarter 2019 sales were impacted
by a prolonged strike
at the automaker. GM’s full-year sales were down about 12% from 2019.
But Toyota (TM)
also reported US quarterly sales rose 9% compared
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