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GM HOLDS THE LINE ON PRICES FOR '93 MODELS

 DETROIT, June 3 /PRNewswire/ -- General Motors (NYSE: GM) will not raise prices of its cars and trucks in the United States for the rest of the 1993 model year, the company said today.
 J. Michael Losh, vice president and group executive for North American vehicle sales, service, and marketing, said GM's decision to hold the line on prices for all of its 1993 vehicles is based on its success in increasing sales and reducing operating costs.
 "At a time when our competitors' prices are going up, we are choosing a different direction," he declared.
 "We're enjoying an outstanding sales momentum this spring, and we fully expect it will continue into the summer selling season," he said. "We believe the pricing action we're announcing today will help continue that momentum," he added.
 Losh said that GM's May sales results prove that if the product is priced right, customers will respond to marketplace initiatives in spite of lingering national economic concerns.
 Losh reported that GM passenger car sales in May were up 5.9 percent above year-ago levels, while truck sales increased 18.9 percent over the same period last year. Total vehicle sales for May were up 10.3 percent over May, 1992.
 "What's particularly satisfying about our May results is the continuing retail sales gains of GM passenger cars." Losh said. "The final 10 days of May was the fifth consecutive reporting period in which our car sales are up over year-ago figures."
 Losh said that the Chevrolet Cavalier topped the company's charts as the best-selling GM car with sales up 34 percent for the month of May and 25 percent for the calendar year. Pontiac Grand Am sales were the best for any month in that car's history.
 Losh also noted that May truck sales continue at a torrid pace, with sales of 167,970 units, the best selling rate ever for the month of May. GMC Truck is also experiencing its best year ever with total calendar year sales of 166,783 units up 18 percent over year-ago levels.
 -0- 6/3/93
 /CONTACT: John F. Maciarz of GM News Relations, 313-556-2034/
 (GM)


CO: General Motors Corporation ST: Michigan IN: AUT SU:

JG -- DE025 -- 5030 06/03/93 13:35 EDT
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Publication:PR Newswire
Date:Jun 3, 1993
Words:373
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