General Motors Reports Higher October U.S. Sales

General Motors Company GM on Monday reported its U.S. October sales rose 0.2 percent from a year ago to 226,819 units.

General Motors' U.S. Vice President of Sales Operations Kurt McNeil said that its October sales, which were its best in seven years, was due to an improving economy, improved job market, high consumer confidence and lower fuel prices.

Sales of Chevrolet branded vehicles rose 0.5 percent from a year ago to 155,965. Sales of GMC-branded vehicles fell 0.8 percent to 38,540, Buick sales rose 6.5 percent to 18,699 and Cadillac sales fell 8.0 percent to 13,615.

Sales of Chevrolet Cruze more than doubled from a year ago to 24,289 units, helping drive General Motors' compact car sales to the highest level since 2003.

General Motors' best-selling vehicle by total number of units was the Chevrolet Silverado-C/K Pickup truck. Sales rose 10.1 percent from a year ago to 46,966 units. The company noted that sales for its SUVs continue to be strong.

In addition, General Motors' fleet sales rose 6 percent, while commercial sales rose 30 percent, which marked the 12th consecutive month of year-over-year growth.

Shares of General Motors were recently down 1 percent at $31.08.