PREMiERdrum Posted November 1, 2016 Share Posted November 1, 2016 Chevrolet and Buick Post Big Retail Sales and Share Gains Keeping GM the Fastest-Growing Full-line Automaker Chevrolet U.S. retail sales up 6 percent for best October since 2004 Buick U.S. retail sales up 7 percent for best October since 2003 GMC sets brand’s all-time record for October ATP at $43,988 DETROIT – General Motors (NYSE: GM) sold 208,290 vehicles in October to individual or “retail” customers in the U.S., up 3 percent from last year, despite two fewer selling days. Based on initial estimates, GM outperformed the entire U.S. retail industry by a wide margin. Led by Chevrolet and Buick, GM’s U.S. retail market share rose to its highest October level since 2009. Based on initial estimates, GM’s retail market share jumped 1.6 percentage points in October to 18.1 percent, the largest retail market share gain of any manufacturer. GM has gained retail market share in 16 of the past 19 months. Chevrolet’s October U.S. retail sales were up 6 percent compared to last year, the brand’s best October since 2004. Buick’s October U.S. retail sales were up 7 percent, the brand’s best October since 2003. Chevrolet gained 1.4 percentage points of U.S. retail market share in October to 12.3 percent. Chevrolet has gained U.S. retail market share in 9 out of 10 months this year, and remains the industry’s fastest-growing full-line brand. Buick gained 0.2 percentage points of retail market share in October. In addition, GMC set an all-time October record for the brand’s ATP or Average Transaction Price of $43,988, up more than $1,800 over last October’s performance. GM’s total U.S. sales in October were 258,626 vehicles, down less than 2 percent from last year. In addition, GM’s daily rental sales were down approximately 8,000 vehicles or about 19 percent in October compared to last year, as planned. “GM’s October performance reflects the strength of our retail business and our operating discipline. We gained profitable retail share in October while spending less than the industry average on incentives and commanding the industry’s best average transaction prices for any full-line automaker,” said Kurt McNeil, GM’s vice president of U.S. sales operations. “We will continue our disciplined approach and focus on retail in a strong industry.” In October, GM’s incentive spending as a percent of ATP was 11.7 percent, below the industry average of 11.8 percent. GM’s ATPs, which reflect retail transaction prices after sales incentives, were $36,155 in October, more than $4,650 above the industry average and more than $1,000 above last October’s performance. Through the first ten months of the year, GM retail sales are up 1 percent, compared to last year. GM has gained 0.6 percentage points of retail share during that timeframe, the largest retail share gain of any full-line automaker. Year to date, Chevrolet retail sales are up more than 2 percent and the brand’s retail share has grown 0.5 percentage points to 11.2 percent. Year to date, Buick retail deliveries have grown nearly 4 percent and Buick has gained 0.1 percentage points of retail share. GM continues to benefit from a strong U.S. economy. “Key fundamentals like job security, rising personal incomes, low fuel prices and low interest rates continue to provide the environment for a very healthy U.S. auto industry,” said Mustafa Mohatarem, GM’s chief economist. “The U.S. auto industry is well positioned for sales to continue at or near record levels for the foreseeable future.” October Retail Sales and Business Highlights vs. 2015 (except as noted) Chevrolet Chevrolet had its best October since 2004 and best year to date sales since 2006 Chevrolet cars sales continue to grow faster than the passenger car industry Malibu, Camaro, Corvette, Spark and Volt were up 39 percent, 14 percent, 8 percent, 5 percent and 6 percent, respectively Malibu had its best October since 1980 Camaro had its best October since 2009 Colorado, Suburban, Tahoe and Trax were up 42 percent, 35 percent, 49 percent and 37 percent, respectively Tahoe and Suburban had their best October since 2007 Colorado had its best October since 2004 GMC ATPs growing three times faster than industry pace Acadia, Canyon, Yukon XL and Yukon were up 17 percent, 15 percent, 3 percent and 26 percent, respectively More than 25 percent Denali penetration for the brand Sierra had its highest ATP ever at $46,876 Canyon had its best October ever Acadia had its best October ever Yukon had its best October since 2007 and 14th month of year-over-year growth Yukon XL had its best October since 2007 Buick Best October since 2003 and best year to date since 2005 LaCrosse was up 13 percent with new model off to a strong start Envision had best month since launch Cadillac Escalade retail sales up year to date more than 6 percent October ATP was a record $55,058, up more than $2,300 from last October Record year to date ATP of $53,542 Year-to-date retail luxury market share in line with 2015 performance Average Transaction Prices (ATP)/Incentives GM’s ATPs, which reflect retail transaction prices after sales incentives, were $36,155 in October, more than $4,650 above the industry average in October and more than $1,000 above last October GM’s October incentive spending as a percentage of ATP was 11.7 percent, below the industry average of 11.8 percent, but down 1.4 percentage points from last month and well below many other competitors Fleet and Commercial Commercial fleet up 13 percent vs. September, and up 3 percent, selling day adjusted, YOYMalibu up 95 percent compared to last October Mid-size trucks up 218 percent compared to last October Federal Government sales up 53 percent Rental down 19 percent for October, and 29 percent year to date, according to plan Industry Sales GM estimates that the seasonally adjusted annual selling rate (SAAR) for light vehicles in October was approximately 18.0 million units. On a calendar year-to-date basis, GM estimates the light-vehicle SAAR was 17.4 million units http://media.gm.com/media/us/en/gm/news.detail.html/content/Pages/news/us/en/2016/nov/1101-gmsales.html Quote Link to comment Share on other sites More sharing options...
akirby Posted November 1, 2016 Share Posted November 1, 2016 ATS/CTS sales WAY down for the month and ytd. XT5 worse than SRX. Full size trucks down. Midsized trucks up. Full sized SUVs WAY up. Big incentives? Camaro going back to normal. Quote Link to comment Share on other sites More sharing options...
rmc523 Posted November 1, 2016 Share Posted November 1, 2016 ATS/CTS sales WAY down for the month and ytd. XT5 worse than SRX. Full size trucks down. Midsized trucks up. Full sized SUVs WAY up. Big incentives? Camaro going back to normal. I can't believe ATS and CTS continue to plummet month after month. I would've expected them to bottom out by now. To be fair, I think some drop in SRX->XT5 was expected with a higher price and likely not as good deals on them. Did GMC drop the Savana? Quote Link to comment Share on other sites More sharing options...
grbeck Posted November 1, 2016 Share Posted November 1, 2016 The sales figures for the ATS and CTS are pathetic...interesting that the Cadillac CT6 is close to matching them. It appears as though people who want a Cadillac passenger car still want it to be big. 1 Quote Link to comment Share on other sites More sharing options...
rmc523 Posted November 1, 2016 Share Posted November 1, 2016 The sales figures for the ATS and CTS are pathetic...interesting that the Cadillac CT6 is close to matching them. It appears as though people who want a Cadillac passenger car still want it to be big. It's been a while since I've been in either the ATS or CTS, but I remember them feeling cramped, especially the back seat. Caddy buyers don't want cramped. 1 Quote Link to comment Share on other sites More sharing options...
akirby Posted November 1, 2016 Share Posted November 1, 2016 To be fair, I think some drop in SRX->XT5 was expected with a higher price and likely not as good deals on them. Yes, if ATPs are that much higher then a slight sales drop is ok. Hard to tell. Quote Link to comment Share on other sites More sharing options...
RichardJensen Posted November 1, 2016 Share Posted November 1, 2016 Did GMC drop the Savana? Apparently not? BTW, in defiance of the GMC slogan "Professional Grade", Chevrolet is GM's primary commercial/fleet brand now. The new GM medium duties are branded Chevrolet, not GMC. You can still buy GMC commercial trucks, but the range is narrower than Chevrolet. http://www.gmc.com/commercial-vehicles.html http://www.chevrolet.com/commercial.html Quote Link to comment Share on other sites More sharing options...
rperez817 Posted November 1, 2016 Share Posted November 1, 2016 Looks like GM's strategy emphasizing retail customers and reducing fleet sales is paying off. If the sales figures are adjusted for two fewer selling days in Oct. '16 compared to Oct. '15, GM's sales are up 5.9%. Quote Link to comment Share on other sites More sharing options...
RichardJensen Posted November 1, 2016 Share Posted November 1, 2016 Looks like GM's strategy emphasizing retail customers and reducing fleet sales is paying off. Just wait. The market is softening (viz. FCA). Quote Link to comment Share on other sites More sharing options...
rmc523 Posted November 2, 2016 Share Posted November 2, 2016 (edited) Apparently not? BTW, in defiance of the GMC slogan "Professional Grade", Chevrolet is GM's primary commercial/fleet brand now. The new GM medium duties are branded Chevrolet, not GMC. You can still buy GMC commercial trucks, but the range is narrower than Chevrolet. http://www.gmc.com/commercial-vehicles.html http://www.chevrolet.com/commercial.html I asked because it's sales were so low. I wonder if the majority of them were the 1500 model that was dropped (wasn't it? I know the express 1500 was). The Savana starts at $30,000?? What does the Transit start at? Or am I just out of touch with the market? Edited November 2, 2016 by rmc523 Quote Link to comment Share on other sites More sharing options...
RichardJensen Posted November 2, 2016 Share Posted November 2, 2016 I asked because it's sales were so low. I wonder if the majority of them were the 1500 model that was dropped (wasn't it? I know the express 1500 was). The Savana starts at $30,000?? What does the Transit start at? Or am I just out of touch with the market? The Savana is, I believe, restricted to Class 2 sales. The reason why GM stopped building their 1500 vans was CAFE. And actually, Transit MSRP is higher--because it's a much better product. Quote Link to comment Share on other sites More sharing options...
rmc523 Posted November 2, 2016 Share Posted November 2, 2016 The Savana is, I believe, restricted to Class 2 sales. The reason why GM stopped building their 1500 vans was CAFE. And actually, Transit MSRP is higher--because it's a much better product. Interesting....well regardless, it really is, IMO, a redundant product that they could and should eliminate. Yeah now that you mention it, $32K does stick out in my mind as a Transit base price. Am I close? Quote Link to comment Share on other sites More sharing options...
RichardJensen Posted November 2, 2016 Share Posted November 2, 2016 (edited) Interesting....well regardless, it really is, IMO, a redundant product that they could and should eliminate. Yeah now that you mention it, $32K does stick out in my mind as a Transit base price. Am I close? That's about right for the 250. Smallest version is like $30k. Edited November 2, 2016 by RichardJensen Quote Link to comment Share on other sites More sharing options...
jpd80 Posted November 2, 2016 Share Posted November 2, 2016 So what's with the sales drop with Silverado Sierra while Colorado/Canyon increases? Is this a sign of internal competition or just large truck buyers pulling back? Quote Link to comment Share on other sites More sharing options...
630land Posted November 3, 2016 Share Posted November 3, 2016 (edited) Chevy Cruze sales are as down as much Focus, yet it's a "new car". But, isn't having a new car a "cure all for sales", per some "experts" on here? Gas being cheap is the #1 reason small car sales are down. Edited November 3, 2016 by 630land Quote Link to comment Share on other sites More sharing options...
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