General Motors' stock rallies as February sales data shows market-share gains
General Motors Co.'s stock surged 2% in morning trade Wednesday, after the automaker said total February sales rose 4% from a year ag to 237,388 units, outperforming the estimated 1% decline for the overall industry. That led to a 0.9 percentage point increase in market share to 17.5%. Average transaction prices increased 1.7% to $34,900, as incentive spending was essentially flat. Looking ahead, GM said it expected that the company, and its Chevrolet brand in particular, will continue to gain retail market share in 2017. The stock has gained 3.1% over the past three months, while the S&P 500 has climbed 8.8%.
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