GM says sales decline possible for July

General Motors will probably report weaker sales than some key rivals do in July. The largest U.S. automaker said that’s because it’s selling fewer vehicles to rental-car agencies — not a lack of love in dealer showrooms.

GM may report a sales decline or small gain in a month that analysts have predicted to be strong for the U.S. market, said Kurt McNeil, vice president of sales. The big culprit is that July will be the company’s lowest month for sales to rental and corporate fleets so far this year, according to data provided by GM.

It’s a strategic move by the company under Chief Executive Officer Mary Barra to reverse more than a decade of reliance on deep discounts and rental-car sales to retain market share at the expense of its margins and brand image. rel in three years, on Thursday said that “today’s oil price downturn could last for several years.” Shell is cutting 6,500 jobs this year and plans to reduce capital investment by $7 billion, it said in a statement.

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