GM aims to boost GMC truck brand's U.S. market share

General Motors Co wants to boost the U.S. market share for its GMC truck brand by two-thirds over the next decade by advertising more heavily and introducing new vehicles, a top executive said on Monday. To help with its goal to boost its share to 5 percent from about 3 percent now, it is almost doubling spending on the brand in that time frame, including boosting its U.S. advertising budget by 50 percent this year, Duncan Aldred, U.S. vice president in charge of GMC sales, told reporters at GM's headquarters in Detroit. GMC has five consecutive years of year-over-year growth, including an increase of 11 percent to almost 502,000 trucks and SUVs in the United States last year due to the introduction of the Canyon mid-sized pickup truck and Yukon full-size SUV. Boosting sales further is important to the No. 1 U.S. automaker because the GMC models sport strong profit margins that will help the company achieve its overall profit margin target of 9 to 10 percent by early next decade, analysts have said.

via Business News http://ift.tt/1AxFHIK