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Big January Gains for Chevrolet Crossovers and Trucks Drive GM Sales Increase Strong Start for Buick, Driven by Envision, LaCrosse Cadillac Escalade, ATS, XTS and XT5 Retail Sales up Sharply Commercial Deliveries Rise DETROIT — General Motors (NYSE: GM), which ended 2017 as the automaker with the fastest-growing crossover sales in the United States, today reported a 20 percent year-over-year gain in the segment in January, along with a 7 percent increase in truck deliveries. GM total sales in January totaled 198,548 units, up more than 1 percent. Demand for Chevrolet trucks and crossovers was very robust, helping the brand increase deliveries by 5 percent year over year: Chevrolet was the fastest-growing crossover brand of 2017, and January deliveries were up 40 percent. The all-new Equinox and Traverse, as well as the Trax and Bolt EV, all posted their best-ever January sales. Chevrolet’s unique three-truck pickup strategy delivered a 17 percent increase in deliveries, with the Colorado up 25 percent and the Silverado up 15 percent. It was the best January ever for Silverado crew cabs. Chevrolet Tahoe deliveries were up 22 percent. “All of our brands are building momentum in the industry’s hottest and most profitable segments,” said Kurt McNeil, U.S. vice president, Sales Operations. “Chevrolet led the growth of the small crossover segment with the Trax as well as the mid-pickup segment with the Colorado. Now, we have the all-new Equinox and Traverse delivering higher sales, share and transaction prices.” Buick and GMC Buick and GMC were major contributors to GM’s year-over-year growth in crossover sales and total sales. Buick also saw a major acceleration in LaCrosse deliveries, which contributed to a year-over-year sales increase of 4 percent for the brand. The GMC Terrain, which is all new for 2018, saw a 14 percent increase. The GMC Canyon posted a 5 percent gain. Buick Envision sales were up 14 percent for the vehicle’s best January yet. Buick LaCrosse sales more than doubled to 3,006 units. Buick’s crossover momentum will continue to grow with greater availability of the redesigned Enclave, launched late last year, and the Regal TourX, which began arriving in dealerships in January. Cadillac Cadillac was strong in several segments, helping the brand earn a 9 percent increase in retail deliveries. Retail sales of the Escalade were up 12 percent year over year, the vehicle gained more than 2 points of retail segment share and ATPs rose by about $2,300. In addition, retail deliveries of the Cadillac XT5 crossover rose 9 percent, and the ATS and XTS were up 18 percent and 30 percent, respectively. Other GM Highlights (vs. 2017) Retail deliveries were down 2 percent and retail mix of total sales was 76 percent. Fleet sales were up 16 percent, with combined Commercial and Government deliveries up 44 percent and daily rental deliveries down 7 percent. GM’s incentive spending was 12.8 percent, down 1 point from a year ago, and down 2 points month over month, according to J.D. Power PIN estimates. Average transaction prices were up $1,270 year-over-year, according to J.D. Power PIN estimates.
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For the First Time Since 2011, GM’s Retail Market Share Tops 17 Percent for Three Consecutive Months DETROIT — General Motors (NYSE: GM) today reported 252,813 deliveries in the United States in October. Pickup deliveries totaled 84,902 units, up 9 percent year over year, led by the Chevrolet Silverado and GMC Sierra. Crossover deliveries totaled 82,235 units, up 12 percent year over year, driven by the highest October sales ever for five different models: the Chevrolet Equinox and Traverse, the GMC Acadia and the Buick Encore and Enclave. Combined Cadillac SRX and XT5 sales were up 17 percent. The Chevrolet Bolt EV and Buick Encore had their best months ever. Combined Commercial and Government deliveries were up 10 percent year over year, and 11 percent calendar year to date. Selling-day adjusted sales were up 2 percent. Total sales were down 2 percent, reflecting lower passenger cars deliveries and one fewer selling day year over year. Retail Share Momentum Exceptionally strong crossover deliveries at Chevrolet, Buick and Cadillac helped the company achieve an estimated retail market share of 17 percent or more for the third consecutive month. The last time GM delivered three consecutive months at or above a 17 percent retail share was July-September 2011. Three crossovers reported massive year-over-year retail sales increases for the month: the Chevrolet Traverse was up 59 percent, the Chevrolet Equinox was up 22 percent and the Buick Enclave was up 75 percent. The GMC Sierra pickup also posted a large 23 percent increase in retail sales. “We are heading into the fourth quarter with good momentum, thanks to a strong U.S. economy and very strong pickup and crossover sales. In fact, Chevrolet and GMC have some of the fastest-turning crossovers in the industry,” said Kurt McNeil, U.S. vice president of Sales Operations. “The all-new Chevrolet Equinox is off to a great start and we could have sold even more if we had more available. We also see tremendous upside with the launches of the 2018 GMC Terrain, Chevrolet Traverse and Buick Enclave. They are arriving in showrooms at the same time consumer confidence is at its highest level since 2000. Small business optimism has also stayed very high since last fall, and that bodes well for pickup and van sales.” Customer demand for trucks and crossovers, combined with incentive spending discipline, is driving strong average transaction prices (ATP) for GM vehicles. GM’s October ATPs, which are net of incentive spending, were more than $36,000, about $1,000 per unit higher than the third quarter average. The GMC brand, which grew total and retail sales during the month, had its highest ATPs ever, driven by the success of Denali models, which reached 30 percent of retail sales. Supplemental Data GM reduced month-end inventory from September and is on track to close 2017 with significantly fewer vehicles in stock than in December 2016. Daily rental sales in 2017 are expected to be down about 50,000 units year over year. GM’s October incentive spending as a percent of ATP was an estimated 13.5 percent, according to JD Power PIN estimates, down from the third quarter estimate of 13.7 percent. Spending is down about one percentage point from September.
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GM Leads Industry on Strength of Chevrolet and GMC Total, Retail, Commercial and Government sales rise on strong truck and crossover demand Best September U.S. retail performance since 2007 DETROIT — General Motors (NYSE: GM) today reported a 12 percent year-over-year increase in total sales in September to 279,397 units, driven by a 17 percent increase at Chevrolet and an 9 percent increase at GMC. Crossover deliveries were up 43 percent, trucks were up 10 percent and passenger cars were down 11 percent. Retail deliveries, which accounted for about 80 percent of sales, were up 8 percent for GM’s best September retail performance since 2007. GM’s U.S. retail share is estimated to be up 0.6 percentage points. Commercial and Government deliveries were up 25 percent and 38 percent, respectively. GM has gained U.S. Commercial market share for 14 consecutive months. “Our new crossovers from Chevrolet, Buick, GMC and Cadillac have been very well-received and Chevrolet had an outstanding month with the Silverado and Colorado,” said Kurt McNeil, U.S. vice president of Sales Operations. “We are entering the fourth quarter with strong momentum, great products and a healthy economy.” GM Chief Economist Mustafa Mohatarem said all the key U.S. economic indicators point toward continued economic growth and stability. In addition, regions devastated by the recent hurricanes will continue to recover, helping spur new and used vehicle sales. “The overall strength of the U.S. economy is the main force driving the market,” he said. “With the U.S. economy strengthening, retail sales should remain strong for the foreseeable future.” September Retail Highlights (vs. September 2016 unless noted) Chevrolet Best September since 2004. Silverado was up 14 percent. Equinox and Traverse, Chevrolet’s newest crossovers, were up 69 percent and 104 percent, respectively, the best September ever for Equinox and the best month ever for Traverse. Bolt EV had its best month ever with 2,505 retail deliveries and 2,632 total deliveries. Best month ever for Chevrolet electrified vehicles (Bolt EV and Volt), with 3,929 retail deliveries. Trax was up 8 percent for its best September ever. Impala was up 7 percent. Buick Enclave, Encore and Envision were up 41 percent, 12 percent and 44 percent, respectively. Encore had its best month ever. Highest ever SUV/crossover mix at 87 percent. LaCrosse ATP up 10 percent year to date. Buick maintained its retail focus with more than a 50 percent reduction in fleet deliveries year to date. GMC Terrain was up 66 percent for its best September ever. Overall Denali penetration was 33 percent, the highest monthly rate ever. Denali penetration on Sierra reached 38 percent in September. Year-to-date ATP is highest in GMC history at $43,210. Sierra had the highest ATP in its segment for 12th straight month. Cadillac XT5 was up 36 percent. Combined XT5 and SRX deliveries were up 12 percent year to date. Year-to-date ATP was up $260 to $53,748, higher than many German luxury brands Supplemental Data U.S. inventory levels are down about 160,000 vehicles in the third quarter. The company’s inventory target is unchanged, which is to end the year with stocks at or below last year’s level of about 850,000 vehicles, with fewer cars and more trucks, crossovers and utilities in the mix. According to JD Power PIN estimates, GM’s September incentive spending as a percent of ATP was 14.6 percent, which reflects special programs that support disaster relief. Year to date, GM’s incentive spend is below its domestic and many Asian competitors. Year to date, GM has the lowest daily rental mix of any full-line automaker at 8.7 percent of total sales. GM remains committed to decrease daily rental sales by 50,000 units in 2017.
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GM U.S. Retail Sales Outperform the Industry on Strong Chevrolet, Buick and Cadillac Retail Gains GM retail share up 0.3 percentage points and up 15 of past 18 months Chevrolet sales up 1 percent; remains the fastest growing full-line brand Buick and Cadillac sales up 7 percent and 5 percent, respectively GMC posted second highest monthly ATPs in brand’s history DETROIT – General Motors (NYSE: GM) sold 204,449 vehicles to individual or “retail” customers in the U.S. in September. Chevrolet’s retail sales in September grew 1 percent, while Buick and Cadillac retail sales also rose 7 percent and 5 percent, respectively. Based on initial estimates, GM’s retail market share rose 0.3 percentage points in September to 16.6 percent, the largest retail share gain of any full-line manufacturer. GM has gained retail market share in 15 of the past 18 months, dating to April 2015. Chevrolet gained 0.3 percentage points of retail share in September to 11 percent. Chevrolet has gained retail market share in 8 out of 9 months this year, and remains the industry’s fastest-growing full-line brand. Buick gained 0.1 percentage points of retail share. In addition, Cadillac grew retail share by 0.1 percentage points, driven largely by the success of the all-new XT5. GMC sales gained momentum through the month and the brand posted its second highest monthly average transaction price or ATP in the brand’s history at $44,144. GM’s total sales in September were down slightly year over year at 249,795 vehicles. Through the first nine months of the year, GM retail sales are up nearly 1 percent, compared to last year. GM has gained 0.5 percentage points of retail share during that timeframe, which is the largest retail share gain of any full-line automaker. Year to date, Chevrolet retail sales are up 2 percent and the brand’s retail share has grown 0.4 percentage points to 11.1 percent. Year to date, Buick retail deliveries have grown more than 3 percent and Buick has gained 0.1 percentage points of retail share. “GM again outperformed the retail industry and gained profitable market share. We continue to lead the retail truck industry and gained share in the two largest car segments,” said Kurt McNeil, GM’s vice president of U.S. sales operations. “We are achieving these results while maintaining disciplined incentive spending and commanding the industry’s best average transaction prices for any full-line manufacturer.” GM’s ATPs, which reflect retail transaction prices after sales incentives, were $35,804 in September, nearly $5,000 above the industry average and approximately $1,000 above last September’s performance. GM continues to benefit from a strong U.S. economy. “Key economic fundamentals like a strong jobs market, rising personal incomes, low fuel prices and low interest rates continue to point toward strong industry performance,” said Mustafa Mohatarem, GM’s chief economist. “We think the industry is well positioned for a continued high level of customer demand into the foreseeable future.” September Retail Sales and Business Highlights vs. 2015 (except as noted) Chevrolet Chevrolet had its best September and year to date since 2007 Malibu, Cruze, Corvette, Camaro and Volt were up 50 percent, 6 percent, 16 percent, 10 percent and 117 percent, respectively Colorado, Suburban, Tahoe and Trax were up 54 percent, 37 percent, 44 percent and 31 percent, respectively Malibu had its best September since 1980 and year to date since 1981 Corvette had its best September since 2006 Tahoe and Suburban had their best September since 2007 Colorado had its best September since 2004 GMC Canyon, Yukon and Yukon XL were up 25 percent, 24 percent and 9 percent, respectively More than 28 percent Denali penetration in September ATPs are 45 percent higher than industry average Sierra had its best year to date sales since 2006 Canyon had its best September ever and year to date ever Yukon and Yukon XL had their best September and year to date performances since 2007 Buick The brand had its best year to date since 2005 Encore was up 28 percent and had its best September and year to date ever Cadillac Escalade was up 17 percent XT5 continues to gain momentum in the marketplace CT6 had its best retail month since launch Average Transaction Prices (ATP)/Incentives GM’s ATPs, which reflect retail transaction prices after sales incentives, were $35,804, nearly $5,000 above the industry average and approximately $1,000 above last September GM’s incentive spending as a percentage of ATP was 13.1 percent, above the industry average of 12.6 percent, but well below other domestic and select Asian competitors, who are spending near or above 15 percent of ATPs Fleet and Commercial GM’s total fleet sales were down 4 percent in September GM’s fleet mix in August was about 18 percent of total sales, below the company’s full-year guidance of 20 percent and more than 19 percent year to date According to plan, daily rental sales were about 12 percent of GM’s total sales in September and are less than 10 percent year to date Malibu commercial sales were up 136 percent versus last September and up 9 percent year to date Industry Sales GM estimates that the seasonally adjusted annual selling rate (SAAR) for light vehicles in September was approximately 17.8 million units. On a calendar year-to-date basis, GM estimates the light-vehicle SAAR was 17.4 million units
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GM’s January Sales up 18 percent on Crossover, Truck Demand Chevrolet up 20 percent with Silverado up 25 percent GMC up 29 percent as every truck and crossover posts gains Cadillac up 3 percent driven by XTS, Escalade DETROIT – General Motors Co. (NYSE: GM) dealers in the United States delivered 202,786 vehicles last month for the company’s best January sales in seven years. Total sales were up 18 percent compared to a year ago. Retail sales were up 14 percent and fleet deliveries were up 32 percent. “Consumers feel very good because more people are working, the U.S. economy is expanding and fuel prices are low,” said Kurt McNeil, U.S. vice president of Sales Operations. “Consumer and commercial demand for trucks and crossovers is really driving our business, and our move into the small crossover segment with the Chevrolet Trax and Buick Encore, and mid-size pickups with the Chevrolet Colorado and GMC Canyon, was well-timed.” Year-over-year pickup deliveries increased 42 percent, following last month’s 43 percent increase. Large pickup sales were up 22 percent and more than 8,000 all-new mid-size trucks were delivered. GM is the only U.S.-based automaker competing in this segment. Sales of crossovers and SUVs were up 36 percent year over year, with the Chevrolet Equinox and Traverse, the GMC Terrain and the Buick Encore all posting their highest January sales ever. Chevrolet will unveil a redesigned Equinox at the Chicago Auto Show on February 12. Highlights (vs. 2014 except as noted) Chevrolet: Chevrolet had its best January total and retail sales since 2008. Silverado deliveries increased 25 percent and in just five months, the all-new Colorado has overtaken the Nissan Frontier to become No. 2 in retail market share in the mid-size pickup segment. Tahoe sales were up 88 percent, Suburban sales more than doubled and the Traverse was up 89 percent. The Chevrolet Cruze, which had its best annual sales ever in 2014, began 2015 with its best January sales ever, as did the Spark. GMC: GMC had its best retail sales since 2004. Sierra sales were up 14 percent. Every GMC crossover and SUV saw higher sales: Yukon and Yukon XL sales more than doubled; Terrain was up 25 percent and Acadia was up 8 percent. The Canyon had its best January in 10 years following the launch of the all-new model late last year. Buick: Encore deliveries rose 46 percent for its best January ever. Cadillac: Deliveries of the XTS were up 14 percent. Demand for the new Escalade continues to exceed expectations, with deliveries up 149 percent. Average Transaction Prices (ATPs): ATPs were $34,800, according to J.D. Power PIN estimates through Jan. 25, up $2,400 per unit compared to a year ago. Incentives: Month over month, GM reduced incentive spending as a percentage of ATPs, according to PIN estimates. The company has had the lowest incentives of all domestic automakers on an ATP basis in 11 of the last 13 months. Incentive spending as a percentage of ATPs was 10.5 percent in January, down 0.3 points month over month, while industry average spending was 9.6 percent of ATPs, down 0.7 points. Fleet and Commercial: Commercial deliveries were up 17 percent, for the 15th consecutive monthly year-over-year increase. Truck, SUV and crossover deliveries all were higher. Sales to government customers were up 27 percent driven by crossover and SUV deliveries, including the new Chevrolet Tahoe Police Pursuit Vehicle. Industry Sales: GM estimates that the seasonally adjusted annual selling rate (SAAR) for light vehicles in January was 16.6 million.
