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General Motors said its U.S. sales in May jumped 32% for the four brands the company kept after its restructuring thanks to continued strong demand for crossover vehicles and cars.
"The company has shed dead weight, cut down its debt and slimmed its dealer network in order to be a more healthy business, but those moves have officially knocked The General from the top 10 of Fortune Magazine's fabled 500 list."
US auto sales rose in January but were tempered by Toyota Motor Corp. (TM), which suffered a sales slide late in the month from a recall that led the auto maker to halt sales of more than half its vehicles.
Edward E. Whitacre Jr., G.M.’s new chief executive, assigned numerous executives to new roles as he looked to strengthen the carmaker’s revival effort.
General Motors says it will reconsider its decision to close some dealerships as part of a compromise to scuttle federal legislation that would require it to keep dealerships open.