GM stays U.S. market leader

1/07/2008 - 19:10

DETROIT (Reuters) - General Motors Corp posted an 8.3 percent decline in June U.S. auto sales after adjusting for sales days in the month, a better-than-expected result for the embattled automaker.

GM sold 265,937 vehicles in June, down 18.5 percent before adjusting for three fewer sales days in June than in the same month a year earlier.

Boosted by a month-end sale and zero-percent financing, GM's sales tally was high enough for it to remain the sales leader in the U.S. market, ahead of Toyota Motor Corp <7203.T> for June.

Shares of GM, which touched a 54-year low on Monday, moved higher on the June sales data. In afternoon trade, GM shares were up 3 percent on the New York Stock Exchange.

(Reporting by Kevin Krolicki; editing by John Wallace)

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