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GM Stock Declines as Third Quarter Sales Drop 3.1%

NEW YORK (TheStreet) -- General Motors Co. (GM - Get Report) stock continued with yesterday's modest losses, closing down by 0.51% to $33.15 on Friday, after the company reported a 3.1% year-over-year decline in its third quarter sales, with 2.33 million vehicles sold worldwide.

Growth in North America and Europe offset drops in South America, China and other international sales.

Sales in South America declined 30.8% to 150,142, while China sales were down 4.2% to 773,226 and other international sales dropped 10.3% to 191,847.

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North American sales increased 5.2% to 930,758 and European sales grew 1.1% to 287,690.

"Our unwavering focus on the customer is paying off in our largest and most important markets," President Dan Ammann said in a statement. "At the same time, we have reacted quickly to challenging macroeconomic environments in other markets and have shown the discipline to exit situations where we see no long-term path to acceptable reutns."

For the first nine months...