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GM cuts sales target
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November 20, 2000: 3:24 p.m. ET
Largest automaker says sales to fall 4% to 7% from a year ago
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NEW YORK (CNNfn) - In another sign of cooling U.S. auto sales market, General Motors Corp. said it expects vehicle sales in November to be down between 4 and 7 percent from a year ago.
The world's largest automaker said it believes those decreases will be in line with expected decreases in overall industry volume.
 The company said it believes car sales will be 5 to 8 percent below a year ago while sales of trucks, which include sport/utility vehicles, minivans and pickups, should fall between 2 and 5 percent. Fleet sales are expected to decline 8 to 11 percent, a possible sign of slowing business activity, while retail sales to consumers are expected to be off 2 to 5 percent.
The automaker already has cut North American production plans by 12 percent from prior forecasts for the fourth quarter, and expects to build 1.38 million vehicles in the current period.
Competitors also are having problems. DaimlerChrysler Friday named a new head of its Chrysler unit and said the change in the U.S. auto market in the fourth quarter will hit the company's results.
Shares of GM (GM: Research, Estimates), a component of the Dow Jones industrial average, fell $3.25 to $52.63 in trading Monday. 
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