Shares Of GM Rising On Auto Sales Data

Detroit, MI (AHN) - Shares of General Motors are trading more than 10 percent higher Tuesday after the automaker reported a smaller than expected decline in June auto sales.

June sales fell 8.3 percent year over year, on a comparably basis. Forecasts from analysts were for a 19.3 percent decline in sales.

There were 24 selling days in June compared to the 27 days last year. Without adjustments for the difference in selling days, sales were down 18.5 percent in June.

GM sold 265,937 vehicles in June, compared to the 326,300 sold in June of last year.

Sales of Buick provided the biggest drag, down 41 percent with 9,631 vehicles sold.

GM sales are down 16.5 percent in the first half of the year compared to the first half of 2007.