September 2010: GM Sales Report

[Drew Dowdell]

Chevrolet, Buick, GMC and Cadillac September Sales Rise 22 Percent on Strong Retail Growth

• Chevrolet, Buick, GMC and Cadillac retail sales increase 39 percent during month
• Sales and inventory mix reflects quick transition to new model year vehicles
• Company gaining retail market share with retail sales up 15 percent year-to-date
• GM full-size pickup sales rise 62 percent; compact crossovers increase 101 percent

DETROIT – September combined total sales for Chevrolet, Buick, GMC and Cadillac increased 22 percent to 172,969 units, driven by a combined 39 percent rebound in retail sales compared with last September. Each brand saw retail increases in excess of 21 percent, led by Buick, where retail sales were up 96 percent for the month.

September's results also reflect an effective and quick model-year transition – a dramatic departure from last year's changeover. Of GM's retail sales for the month, 53 percent were new (2011) model year vehicles – almost double last year's 27 percent. Dealer stock at the end of the month included 75 percent new model vehicles, compared to just 30 percent last year.

"We said our goal for this time of year was to achieve an orderly transition from past model to the new model year, and we've achieved that," said Don Johnson, vice president, U.S. Sales Operations. "This helps us lower our overall selling costs and positions us to come out of the gates quickly during the new model year."

Year to date through September, GM's four brands have sold 79,948 more units than were sold with eight brands through September 2009. The company's brands also have increased retail sales by 15 percent through September, and have gained market share in each of the first nine months this year.

"September's results are a continuation of positive momentum for our four brands and demonstrate that our plan is working," Johnson said. "With key products like our heavy-duty pickups, the Buick Regal and the Cadillac CTS Coupe launching now, and expanded capacity for the Chevrolet Equinox and GMC Terrain hitting dealer lots, we're ready to run."

Increased sales of crossovers and full-size pickups led GM's gains in September. Sales of the company's compact crossovers, Chevrolet Equinox and GMC Terrain, rose 101 percent, while sales of mid-size crossovers, GMC Acadia, Chevrolet Traverse and Buick Enclave increased 36 percent. The Cadillac SRX, remained the fastest growing luxury crossover, with sales up 41 percent during the month. Year-to-date, SRX sales have increased 319 percent. Sales for GM's full-size pickup trucks, Chevrolet Silverado and GMC Sierra rose 62 percent in September.

Month-end dealer inventory in the U.S. stood at about 478,000 units, which is about 26,000 higher compared to August, and about 55,000 higher than September 2009.

September Key Facts and Brand Results:

• Calendar-year-to-date total sales for GM's four brands are up 23 percent
• Chevrolet: Chevrolet delivered 121,479 total vehicles in September, a 19 percent increase year-over-year. Year-to-date total Chevrolet sales are up 19 percent. Retail sales for Chevrolet rose 34 percent on the strength of Silverado and Equinox sales (read more).
• Buick: Buick reported total sales of 12,875, an increase of 36 percent compared to last year. Driven by continuing strong customer demand for the LaCrosse and Enclave (retail sales up 182 and 89 percent, respectively) and growing demand for the all-new Regal, Buick retail sales were up 96 percent for the month. With total sales up 58 percent this year, Buick remains the fastest growing major auto brand in the U.S. (read more).
• GMC:GMC reported total sales of 25,995, a 42 percent increase in total sales in the month of September, compared to the same month last year. This includes a 48 percent increase in retail sales. Retail sales for the GMC Sierra increased 59 percent during the month and retail sales for the Terrain were up 405 percent compared to last year. For the year, GMC total sales are up 28 percent (read more).
• Cadillac: Total sales of 12,620 for September were 11 percent higher than last September, with retail sales increasing 21 percent. SRX retail sales were up 96 percent, compared to a year ago, and CTS retail sales increased 18 percent. With total sales up 44 percent for the year, the brand remains the fastest growing luxury auto brand in the industry (read more).
• Fleet sales for GM's four brands were 43,733 for the month.

[Lamar]

Good for GM.

I did the math, and if they combine all the Escalade variants under one name (regular, ESV, EXT), its sales numbers are down by exactly 3 units last month.

[Satty]

Wait, weren't the rest of GM's brands supposed to flounder when Pontiac was discontinued? I could've sworn C&G told me that Buick was going to be dead in no time once Pontiac went away. Up 58% over last year. Fasted growing brand in the U.S. Looks like some people were wrong.

[SAmadei]

Wait, weren't the rest of GM's brands supposed to flounder when Pontiac was discontinued? I could've sworn C&G told me that Buick was going to be dead in no time once Pontiac went away. Up 58% over last year. Fasted growing brand in the U.S. Looks like some people were wrong.

Looks like some people are happy to jump the gun.

Its easier for a low selling brand to post big (58%!) number than a higher selling brand. I don't have the raw YTD for Buick or Pontiac for the past few years... but IIRC, Buick YTD is 58% over a 2009 sales of ~100K cars. Thats 58K cars. Pontiac alone was selling around 200-300K cars. Anyone who thinks selling 1/6th the number of cars is good business needs to stay out of business... and dont' use the argument that Buick was selling at a higher profit. We've learned since that GM had no idea how much cash on hand they had and had no idea where money was coming and going. So GM was fumbling in the dark as to where any profit might be hiding.

The figures are more telling are that "with four less brands!" GM is ONLY up 10% this month, whereas the rest of the industry is up considerably more... including Ford at 46% (If I read the other thread right).

The problems at Buick-GMC dealers still stand. Buick may be the hottest brand, but its struggling to get back to its old sales numbers. They have no entry level cars to sell, so don't show up at Buick-GMC with less than $27K in your pocket, so there are no relationships being built to slowly move people into a Buick as their buying power increases. I'm not knocking the Regal or LaCrosse, but lets revisit this in 5-10-15 years after GM runs out of Daewoos and Opels to rebadge and the Lexus owners Buick steals are too old to drive.

Mitsubishi only has to sell about 1500 more cars a month to run away with Buick's "hottest/fastest brand" title. Panoz... only 15.

[GXT]

The figures are more telling are that "with four less brands!" GM is ONLY up 10% this month, whereas the rest of the industry is up considerably more... including Ford at 46% (If I read the other thread right).

Yes, it was a very bad month for GM relative to the rest of the industry (up ~30%).

I know GM is being intentionally obtuse by just comparing the core brands, but I think I've cracked the code. If the PR prominently mentions 'increases in retail sales' then it was a bad month.

[Dsuupr]

Yes, it was a very bad month for GM relative to the rest of the industry (up ~30%).

There is not a GM dealer within 100 miles of my home that does not have an inventory problem, unlike the toyota, honda and Ford dealers. It makes it very tough to have great numbers when the dealers don't even have the product to sell.