General Motors U.S. auto sales rise 4.8% in fourth quarter

General Motors EV

(Reuters) – General Motors on Tuesday reported a 4.8% rise in U.S. auto sales for the fourth quarter, boosted by demand for new vehicles during the COVID-19 pandemic.

The U.S. automaker said its sales rose to 771,323 units from 735,909 units a year ago.

“We look forward to an inflection point for the U.S. economy in spring,” said GM Chief Economist Elaine Buckberg.

“Widening vaccination rates and warmer weather should enable consumers and businesses to return to a more normal range of activities, lifting the job market, consumer sentiment and auto demand,” Buckberg added.

Reporting by Sanjana Shivdas in Bengaluru; Editing by Maju Samuel