October 2015: General Motors Co.

[William Maley]

Chevrolet’s Best October in 11 Years Leads GM to its Seventh Consecutive Increase in Retail Market Share

• Best October for GMC since 2003
• Buick Encore sales rise for the 22nd consecutive month
• Cadillac SUVs and crossovers up 59 percent
• Commercial deliveries up for 24th consecutive month

DETROIT – General Motors’ (NYSE: GM) Chevrolet, Buick, GMC and Cadillac brands sold 262,993 vehicles in the United States in October 2015, with Chevrolet posting its best October sales since 2004.

 

GM’s total and retail deliveries – sales to individual customers – climbed 16 percent compared with a year ago, outpacing a very strong industry, and the company’s retail market share has now climbed for seven consecutive months versus 2014. Commercial deliveries in October were up year over year for the 24th consecutive monthly gain. Total fleet sales were up 16 percent.

 

“The redesign of our full-size trucks and SUVs, and our move into the small crossover and mid-size pickup segments were smart bets and our timing couldn’t be better with industry sales at record levels,” said Kurt McNeil, GM’s U.S. vice president of Sales Operations. “Customers are also embracing our Shop-Click-Drive online shopping program, where the price you see is the price you pay. We see more growth ahead because it’s simple and transparent.”

 

Chevrolet’s 18 percent increase reflects strong across-the-board sales. The brand’s crossovers were up 58 percent, the 11th consecutive monthly increase versus a year ago. Chevrolet trucks were up 13 percent, the 19th consecutive monthly increase, and Chevrolet cars were up 6 percent, the best October result since 2004.

 

The Chevrolet Silverado and Colorado had their best October sales since 2006, and the Malibu its best October since 1996. Trax deliveries reached 8,175 units and Traverse deliveries were up 16 percent.

 

GM’s strong results helped the seasonally adjusted annual selling rate (SAAR) for light vehicles reach an estimated 18.2 million units in October. The six-month moving average for the SAAR is now estimated to be 17.8 million units, on track to establish a calendar year record.

 

Sales Highlights vs. 2014 (except as noted)

 

Chevrolet

• Total sales were up 18 percent, retail sales were up 20 percent and the brand has had seven consecutive months of year-over-year retail sales and share gains.
• Malibu retail sales were up 19 percent, and total sales were the highest for any October since 1996. 
• Equinox deliveries were up 25 percent in total for the vehicle’s best October ever. Sales were up 30 percent on a retail basis.
• Traverse was up 16 percent in total and 21 percent for its best-ever October retail sales month. 
• Silverado deliveries were up 14 percent on a retail basis. Retail deliveries have grown year over year for 15 consecutive months.
• The Colorado, with 7,059 units sold, continues to be the industry’s fastest-selling pickup with a days-to-turn rate of 24 days.
• Consumer demand for Chevrolet’s full-size SUVs remains robust, with Tahoe up 17 percent and the Suburban up 25 percent on a retail basis.

GMC

• GMC, with an 18 percent increase, had its best October results since 2003.
• The Terrain was up 47 percent for its best October ever.
• The Yukon was up 18 percent, the Yukon XL was up 27 percent and Canyon deliveries totaled 2,415 units.
• Denali models accounted for more than one-quarter of all GMC sales, the highest ever.

Buick

• Buick retail deliveries were the best since 2003.
• Encore deliveries were up 39 percent for the small crossover’s 22nd consecutive year-over-year sales increase. Retail deliveries were up 60 percent.
• On a retail basis, Regal was up 49 percent.

Cadillac

• Deliveries were up 13 percent, driven by SRX, up 65 percent, and the Escalade, up 47 percent.

Average Transaction Prices (J.D. Power PIN estimates)

• GM’s average transaction prices (ATPs) were $34,600, down about $130 year over year. Calendar year to date, ATPs are up about $800.
• Incentive spending was 12.7 percent of ATP, up 0.9 percentage points from September 2015, reflecting PIN’s estimate of GM’s model-year-end incentive activity. Calendar year to date, spending is up 0.4 percentage points.
• GM’s incentive spending on full-size pickups declined both month over month and year over year by about $200 per unit.

Fleet and Commercial

• Fleet sales in the month were strong due to rental customer demand.
• Calendar year to date rental deliveries are down about 10 percent.  
• Calendar year to date, commercial deliveries are up 14 percent and deliveries to state and local government customers are up 17 percent.

[cp-the-nerd]

How the hell did they sell almost 25,000 units of the Malibu?! Must have been some sort of fleet firesale before the next gen arrives in full swing. Great month overall.

[Drew Dowdell]

It's mind boggling that the Lambda's 7 years in and surpassed by the competition in multiple ways, continue to sell in such fantastic numbers.   With the Enclave having an average transaction price north of $50k, they's sold 2.5 billion dollars worth of revenue in Buick Enclaves this year.   I don't blame GM for not replacing them now if they can get that kinda money for a 7 year old vehicle with a light refresh.

 

I see they are clearing out the leftover Malibus post haste.... that's probably the "strong increase in rental demand"

 

I cannot explain SRX unless the refreshed interior is really winning people over, but oh well, Cadillac needs those sales.  CTS doesn't deserve this.

 

I also don't understand the Theta CUV sales, unless that is also rental fleets.... but they're saying retail sales are up... so.. what do I know?

 

Truck incentives down, but truck sales up, good place to be.

 

You can see the Buick lineup aging out right before your eyes.

[Stew]

How the hell did they sell almost 25,000 units of the Malibu?! Must have been some sort of fleet firesale before the next gen arrives in full swing. Great month overall.

I know they are advertising them here for 10k plus of.  I can't wait to see how the new one does.  And yes, great month or sure!  All of the big 3 had great Octobers which is pretty nice.

[William Maley]

I also don't understand the Theta CUV sales, unless that is also rental fleets.... but they're saying retail sales are up... so.. what do I know?

I'm wonder if that is due to the updated 2016 models hitting dealers or lots of incentives on the 2015 models.

[Drew Dowdell]

I also don't understand the Theta CUV sales, unless that is also rental fleets.... but they're saying retail sales are up... so.. what do I know?

I'm wonder if that is due to the updated 2016 models hitting dealers or lots of incentives on the 2015 models.

The updates are borderline invisible to people who aren't car nuts... I can't imagine the updates having any affect on sales.

[smk4565]

People love crossovers.  I don't get it myself, but most of America would rather spend $50k on a loaded up Toyota Highlander than $50k on a 335i or CTS.  Look at these sales, even the dated crossovers still sell, the newer cars are not.  I think this is where marketing has to do a better job promoting the positive attributes of a sedan.  The CTS for example probably has more front and rear seat leg room than an SRX, handles, better, rides better, gets better fuel economy, has a better interior, has awd, and yet people buy the dated SRX instead because it is 2 box design shape vs 3-box design.   I'd buy a car over a crossover every day of the week and twice on Sundays, but most of the country doesn't think that way.

[daves87rs]

Small cars seem to be staying down.

 

Kinda tempts me to get a Cruze.....

[ocnblu]

I am glad the Colorado and Canyon are selling at plant capacity.  I am sure they wish they had a bit more capacity to satisfy demand.  I would be totally stoked if GM decided to sell the Colorado 7 here as a new generation Trailblazer, with Duramax power it would satisfy a craving (witness Hyundai's Tucson concepts at SEMA and internet rumors of a Bronco revival, you'll see others are picking up on this yearning for a real off-roader).  The Trax is a good little vehicle, but I wish it had a bit more verve in its design aesthetic.  Would be cute with a Z71 variant, or if they want to stay semi-urban (although I get a functional, country vibe from the Trax), even an RS with the bigger turbo engine.  The Impala is such a beautiful car, it is a shame to me that the fullsize sedan segment appears to be comatose, could this be GM's way of sending the Impala nameplate back to car heaven with style and grace?  I love that the new Malibu looks like a junior Impala.  I hope it does well.  New Cruze should continue to do well.  I believe a Cruze coupe would be a fantastic addition, as well as a hatchback and wagon.  The new Camaro is such a knockout too, it is laser focused on its mission.

[El Kabong]

The trucks, man. The TRUCKS!

[surreal1272]

People love crossovers.  I don't get it myself, but most of America would rather spend $50k on a loaded up Toyota Highlander than $50k on a 335i or CTS.  Look at these sales, even the dated crossovers still sell, the newer cars are not.  I think this is where marketing has to do a better job promoting the positive attributes of a sedan.  The CTS for example probably has more front and rear seat leg room than an SRX, handles, better, rides better, gets better fuel economy, has a better interior, has awd, and yet people buy the dated SRX instead because it is 2 box design shape vs 3-box design.   I'd buy a car over a crossover every day of the week and twice on Sundays, but most of the country doesn't think that way.

While I loathe CUVs, you seem to miss the other points as to why they are in demand, The biggest being that they have way more space for cargo than your average sedan like the CTS or the 335i. You also have to consider the ride height advantage. I hear people talk about that a lot so it's obviously a huge factor into the success of CUVs. 

[smk4565]

How much cargo do these CUV owners haul?  Most of the time you see 1 person in the car, empty cargo area. I think it is ride height and some perceived level of safety, coupled with image of if you drive an SUV you are more successful than a sedan driver.

[Drew Dowdell]

How much cargo do these CUV owners haul?  Most of the time you see 1 person in the car, empty cargo area. I think it is ride height and some perceived level of safety, coupled with image of if you drive an SUV you are more successful than a sedan driver.

 

It's not all the time, but I do use my CUV cargo areas enough (in the CR-V at least) to warrant having at least one out of our two cars be a crossover.  The Encore less so, but it has come in handy in a pinch. 

 

That said, I can haul an impressive number of bags of mulch in the Toronado with the spare tire removed. It has automatic leveling suspension too, so I'm not dragging my tailpipe in that like I did when I loaded up the Honda.   But they don't make trunks like that anymore. 

[Robert Hall]

How much cargo do these CUV owners haul?  Most of the time you see 1 person in the car, empty cargo area. I think it is ride height and some perceived level of safety, coupled with image of if you drive an SUV you are more successful than a sedan driver.

Many factors..it's about the potential of cargo space when you need it--sedan trunks are useless for boxes and other bulky content...I find myself folding down the back seat and putting content in my Jeep once a month or more that I couldn't do with a sedan...other selling points are the ride height and ease of getting in and out.  Sedans are so low by comparison.   And the perceived utility of AWD for winter.  After 20+ years of driving SUVs I'd find it hard to go to a sedan for the daily driver...I don't need a truck, but a CUV/SUV suits me and countless other drivers..

Edited November 12, 2015 by Cubical-aka-Moltar