GM Q2 2024 Sales Results

[rmc523]

U.S. Q2 and First Half Sales: Growing in EVs, Pulling Ahead in Trucks and Loading the Bases with New SUVs | General Motors Company (gm.com)

 

 

I'll have more data and truck comparison with the main competitors when they reports the numbers.

[rmc523]

EV comparison with GM:

 

 

And comparison of major truck players:

 

[rmc523]

Buick's numbers don't look good if you remove Envista.

[atomcat68]

2 hours ago, rmc523 said:

Buick's numbers don't look good if you remove Envista.

I remember when Enclave was first introduced, it was more than half of the Buick sales and a big hit for them. Now it is being outsold by the Corvette.

 

Lyriq sales are impressive!

Edited July 3 by atomcat68

[Dequindre]

Could the GM large SUVs be foreshadowing a recession? I remember large SUV sales beginning to dip in a similar manner in 2006/2007 before a recession was more evident. 

[Chrisgb]

17 hours ago, atomcat68 said:

I remember when Enclave was first introduced, it was more than half of the Buick sales and a big hit for them. Now it is being outsold by the Corvette.

 

Lyriq sales are impressive!

The kids have left home, time to trade in the Beewick for something they've always wanted.

[rmc523]

On 7/3/2024 at 4:51 PM, atomcat68 said:

I remember when Enclave was first introduced, it was more than half of the Buick sales and a big hit for them. Now it is being outsold by the Corvette.

 

Lyriq sales are impressive!

 

I'll give Enclave a pass because the brand new model is coming out now, so it may be a transition issue, but the rest of the lineup doesn't have that problem.

 

I'm curious how much money they're throwing at Lyriq to make it move (legit asking).

 

On 7/3/2024 at 11:33 PM, Dequindre said:

Could the GM large SUVs be foreshadowing a recession? I remember large SUV sales beginning to dip in a similar manner in 2006/2007 before a recession was more evident. 

 

I'm wondering the same thing.

[akirby]

On 7/3/2024 at 11:33 PM, Dequindre said:

Could the GM large SUVs be foreshadowing a recession? I remember large SUV sales beginning to dip in a similar manner in 2006/2007 before a recession was more evident. 

I think it’s just inflation plus dealer profit taking and we’ll see pricing adjustments to compensate.  Not necessarily a recession.

Edited July 5 by akirby

[ice-capades]

59 minutes ago, akirby said:

I think it’s just inflation plus dealer profit taking and we’ll see pricing adjustments to compensate.  Not necessarily a recession.

 

Regarding the large SUV's, I'm not sure that "Dealer profit taking" is the issue. There are a lot of Dealers in smaller markets or in markets where the GM competition dominates sales, and the Expedition and Navigator vehicles get lost. A lot of those Ford Dealers order Expeditions to have one in stock, in markets where they only sell 1 or 2 per year and end up trading them to other Ford Dealers in part because they ordered vehicles with the wrong specifications (Model Trim and specifications) for their market. In particular, they make the mistake of stocking high end Expeditions that are beyond what their local market actually sells. They then try to sell those Expeditions at prices that their local market won't accept, and those customers buy the industry leading GM competitors.  

[rmc523]

26 minutes ago, ice-capades said:

 

Regarding the large SUV's, I'm not sure that "Dealer profit taking" is the issue. There are a lot of Dealers in smaller markets or in markets where the GM competition dominates sales, and the Expedition and Navigator vehicles get lost. A lot of those Ford Dealers order Expeditions to have one in stock, in markets where they only sell 1 or 2 per year and end up trading them to other Ford Dealers in part because they ordered vehicles with the wrong specifications (Model Trim and specifications) for their market. In particular, they make the mistake of stocking high end Expeditions that are beyond what their local market actually sells. They then try to sell those Expeditions at prices that their local market won't accept, and those customers buy the industry leading GM competitors.  

 

Sounds like that's on the dealer then - you'd think they'd learn eventually what their market can handle.

[akirby]

46 minutes ago, ice-capades said:

 

Regarding the large SUV's, I'm not sure that "Dealer profit taking" is the issue. There are a lot of Dealers in smaller markets or in markets where the GM competition dominates sales, and the Expedition and Navigator vehicles get lost. A lot of those Ford Dealers order Expeditions to have one in stock, in markets where they only sell 1 or 2 per year and end up trading them to other Ford Dealers in part because they ordered vehicles with the wrong specifications (Model Trim and specifications) for their market. In particular, they make the mistake of stocking high end Expeditions that are beyond what their local market actually sells. They then try to sell those Expeditions at prices that their local market won't accept, and those customers buy the industry leading GM competitors.  

The question was why the GM large SUVs sales were down.  What I was trying to say was it was higher prices which is a combination of factory raising prices and dealers not giving discounts.  I think both will change as prices come down to normalize sales again just like we’re starting to see with trucks.

[T-dubz]

52k trax in a quarter is impressive.

[morgan20]

On 7/5/2024 at 2:07 PM, ice-capades said:

markets where the GM competition dominates sales, and the Expedition and Navigator vehicles get lost.

 

That's everywhere in the U.S.

[tbone]

6 hours ago, T-dubz said:

52k trax in a quarter is impressive.

I feel Ford needs a competitor to this.  It’s a good looking vehicle at a reasonable price, so I’m not surprised they have sold that many.  

[fuzzymoomoo]

3 minutes ago, tbone said:

I feel Ford needs a competitor to this.  It’s a good looking vehicle at a reasonable price, so I’m not surprised they have sold that many.  

Wont ever happen. Don’t have anywhere to build it that would net them that 10% margin they demand. 

[T-dubz]

9 hours ago, fuzzymoomoo said:

Wont ever happen. Don’t have anywhere to build it that would net them that 10% margin they demand. 

Chevy builds the Trax in South Korea. I guess they are able to save enough money by importing them and still make a profit? I too wish ford had a competitor to this. GM has 3-4 subcompact SUVs in the low to mid 20k range. Ford doesn’t have any good looking small SUVs internationally, so there is nothing they could import either.

 

I wonder if we are on the verge of seeing more vehicles being imported? Lincoln is already bringing in the nautilus but it’s low volume. The trax is now one of chevys biggest sellers. If they are able to make a decent profit importing, what’s to stop them or other manufacturers from doing it?

 

[fuzzymoomoo]

41 minutes ago, T-dubz said:

Chevy builds the Trax in South Korea. I guess they are able to save enough money by importing them and still make a profit? I too wish ford had a competitor to this. GM has 3-4 subcompact SUVs in the low to mid 20k range. Ford doesn’t have any good looking small SUVs internationally, so there is nothing they could import either.

 

I wonder if we are on the verge of seeing more vehicles being imported? Lincoln is already bringing in the nautilus but it’s low volume. The trax is now one of chevys biggest sellers. If they are able to make a decent profit importing, what’s to stop them or other manufacturers from doing it?

 

GM has been importing from South Korea for a while now, and I think that’s more of a product of them wanting to keep that plant running and the Korean union happy (it’s the Daewoo plant) vs. it’s the profitable option. There’s zero chance they ever made money on the Aveo (remember that shitbox? Lol) and I can’t imagine the Trex/Trailblazer imports are coming out much more ahead either. 

[Andrew L]

3 hours ago, T-dubz said:

Chevy builds the Trax in South Korea. I guess they are able to save enough money by importing them and still make a profit? I too wish ford had a competitor to this. GM has 3-4 subcompact SUVs in the low to mid 20k range. Ford doesn’t have any good looking small SUVs internationally, so there is nothing they could import either.

 

I wonder if we are on the verge of seeing more vehicles being imported? Lincoln is already bringing in the nautilus but it’s low volume. The trax is now one of chevys biggest sellers. If they are able to make a decent profit importing, what’s to stop them or other manufacturers from doing it?

 

 

I think the Puma looks pretty good and think it could do well here.

[T-dubz]

2 hours ago, Andrew L said:

 

I think the Puma looks pretty good and think it could do well here.

True, i assumed it was built in England and thus wouldn’t be worth it to import, but I honestly have no idea where it’s built.

 

4 hours ago, fuzzymoomoo said:

GM has been importing from South Korea for a while now, and I think that’s more of a product of them wanting to keep that plant running and the Korean union happy (it’s the Daewoo plant) vs. it’s the profitable option. There’s zero chance they ever made money on the Aveo (remember that shitbox? Lol) and I can’t imagine the Trex/Trailblazer imports are coming out much more ahead either. 

That makes sense, but I can’t figure why they would have so many small SUVs in the same price range then. If you aren’t making any money, why have 4 models (2 chevys and 2 Buicks)? Guess they are going for the low profit high volume approach.

[Andrew L]

3 hours ago, T-dubz said:

True, i assumed it was built in England and thus wouldn’t be worth it to import, but I honestly have no idea where it’s built.

 

That makes sense, but I can’t figure why they would have so many small SUVs in the same price range then. If you aren’t making any money, why have 4 models (2 chevys and 2 Buicks)? Guess they are going for the low profit high volume approach.

 

According to wiki it's built in Romania

[tbone]

11 hours ago, T-dubz said:

Chevy builds the Trax in South Korea. I guess they are able to save enough money by importing them and still make a profit? I too wish ford had a competitor to this. GM has 3-4 subcompact SUVs in the low to mid 20k range. Ford doesn’t have any good looking small SUVs internationally, so there is nothing they could import either.

 

I wonder if we are on the verge of seeing more vehicles being imported? Lincoln is already bringing in the nautilus but it’s low volume. The trax is now one of chevys biggest sellers. If they are able to make a decent profit importing, what’s to stop them or other manufacturers from doing it?

 

I can imagine the latest UAW contracts will put pressure on the companies to import more vehicles.  It’s going to be difficult to absorb those higher labor costs on vehicles that are already too expensive. 

[akirby]

On 7/12/2024 at 4:39 PM, T-dubz said:

That makes sense, but I can’t figure why they would have so many small SUVs in the same price range then.

 Cause they’re GM.  The company that used to have 4 different versions of the exact same vehicle with different badges.  Not to mention Canyorado and Silvererra.

[silvrsvt]

On 7/12/2024 at 11:28 AM, fuzzymoomoo said:

 I can’t imagine the Trex/Trailblazer imports are coming out much more ahead either. 

 

I just took a look at the Chevy website and the Trax and Trailblazers have almost no discounts on them mean while the Malibu and Equinox are marked down $3-4K

 

The Trax is roughly 25K or so and the Trailblazer is slightly more. If Ford can sell a C based truck that starts at 25K in Mexico, I'm going  assume that Chevy can sell a B class product that is less complex from South Korea at a Profit in the USA. 

[rmc523]

46 minutes ago, silvrsvt said:

 

I just took a look at the Chevy website and the Trax and Trailblazers have almost no discounts on them mean while the Malibu and Equinox are marked down $3-4K

 

The Trax is roughly 25K or so and the Trailblazer is slightly more. If Ford can sell a C based truck that starts at 25K in Mexico, I'm going  assume that Chevy can sell a B class product that is less complex from South Korea at a Profit in the USA. 

 

To be fair as well, Malibu is on the way out the door, as is the current Equinox (new model for '25), vs. a new Trax (Trailblazer is a few years old).

[silvrsvt]

23 hours ago, rmc523 said:

 

To be fair as well, Malibu is on the way out the door, as is the current Equinox (new model for '25), vs. a new Trax (Trailblazer is a few years old).

 

Yeah I know that but if they weren't selling, they would have larger discounts on them. 

 

The Trailblazer is pretty popular in my area and I actually find it be one of the best looking GM models with the two tone roof and body color-which I'm assuming are higher end models. 

 

For a cheaper product, it doesn't look cheap. The Maverick (well interior wise) looks cheap sometimes.