GM is regaining lost market share in Oct., could rise to 22.4%

According to data from Edmunds.com, General Motors Company is regaining some of its market share this month. In the third-quarter of 2009, GM’s average market share was 19.1 percent. If the early October trend continues, GM’s market share could rise to 22.4 percent this month.

Launches of new models like the 2010 Chevrolet Equinox, Cadillac SRX, GMC Terrain and the Buick LaCrosse along with a hike in ad spending are helping the Detroit automaker this month.

While GM’s market share seems to be getting a bump this month, AutoObserver points out that it is rising from a particularly low base. GM’s market share has been on the decline for decades, dropping out at 10 points in the last 5 years alone.┬áThe automaker also lost ground leading up to its Chapter 11 bankruptcy last spring, and it didn’t enjoy as much of a boost from the Cash for Clunkers program.

– By: Omar Rana

Source: AutoObserver