GM: Iran war causing cost increases, but pricey vehicles continue to sell [CNBC]
General Motors Company (GM)
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Source: CNBC
The automaker had a $52,000 average transaction price for vehicles during the first quarter, which was in line with last year and slightly more than the average across the industry. Barra's comments come after GM reported sales declines and as consumer confidence plunged to a record low in April as fears mounted over rising energy prices and the broader impact of the Iran war. In this article DETROIT — General Motors on Tuesday said the Iran war is causing cost increases to its business, but inflated consumer expenses such as higher gas prices haven't deterred buyers from spending on pricey vehicles. GM CEO Mary Barra said the Detroit automaker continues to monitor any change in customer spending but, so far, the company's vehicle mix has remained healthy. GM said it had an $52,000 average transaction price for vehicles during the first quarter, which was in line with last year. The average new vehicle transaction price across the industry for March, the most recent data av
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