1gm_logo.jpgDetroit’s leading automaker, General Motors Company, now trading as Motors Liquidation Company (PinkSheets: MTLQQ) from the time when it exited bankruptcy protection, on Wednesday said it expects the encouraging showroom traffic in October to manifest in year-on-year sales growth for the first time since the beginning of last year. Such optimism, according to industry analysts, captures a precise image of the overall U.S vehicle market that is on the mend courtesy of the cash-for-clunkers program.

  October is also anticipated to mark the third consecutive month that the carmaker furthers its domestic market share. For the results that are due to be reported next Tuesday, GM has calculated that it will claim about 21 percent of the total vehicle sales made during October, coming in three percent and four percent clear of archrivals Toyota Motor Corporation (NYSE: TM)and Ford Motor Company (NYSE: F), respectively.
GM posted a 45 percent sales drop in September, and is about 36 percent down for the year to date.

  A product mix of latest and redesigned trademarks such as the Chevy Camaro, Chevy Equinox, GMC Terrain, Cadillac CTS Sportswagon and the Buick LaCrosse sedan, has already been credited for 95 percent of the entire GM sales this month. The remainder of the sales were attributed to the four brands that are either on sale or being terminated – Hummer, Pontiac, Saab and Saturn. During the same month of last year, the continuing brands accounted for 85 percent of the sales, whereas the outgoing ones reported 10 percent.

  Despite the popularity of its new and improved offerings, over the current month GM also capitalised on its sales incentives that were pegged at between $3,900 and $4,000 per unit. The company even said it will continue offering the discounts beyond October in order to rid of 2009 models.

  In separate news altogether, before the end of the week the carmaker is planning to ask for over $2.5 billion in additional taxpayer money to channel towards Delphi Automotive LLP, its major parts supplier that has also emerged from bankruptcy recently. At the same time, is also required to file a report with the Securities and Exchange Commission detailing its expenditure on the parts maker from the total of $50 billion bailout that it received when it filed voluntary petitions of bankruptcy protection in June.

  MTLQQ shares were up 3.71 percent in the afternoon session on Thursday, trading at $0.61, from the previous $0.59. Notwithstanding the fact that both the government and the company have warned against buying the company’s stock, trading volume index continue to tick up.

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