For Immediate Release: Wednesday, Sept. 3, 2014
GM's Truck Sales Climbed 18 percent in August
• Chevrolet and GMC large SUV sales up 38 percent
• Chevrolet Silverado up 13 percent; GMC Sierra up 10 percent
• 10th consecutive month of commercial sales growth
• Total sales up 2 percent adjusted for selling days
DETROIT - General Motors Co. (NYSE: GM) dealers delivered
272,423 vehicles in the United States in August, led by an 18
percent increase in truck sales compared to a year ago, a 10
percent increase in GMC deliveries and a 30 percent increase in
commercial sales.
Total deliveries were down 1 percent compared with last August,
which was GM's best sales month of 2013. Retail deliveries, which
are sales to individual consumers, declined 4 percent. Fleet
deliveries were up 9 percent compared with a year ago.
On a selling day adjusted basis, GM's total sales were up 2
percent, with retail sales essentially equal to a year ago and
fleet up 13 percent.
Incentive spending as a percentage of average transaction prices
(ATPs) was 10.4 percent, the lowest of all domestic automakers by a
significant margin, according to J.D. Power PIN estimates. GM
spending was down a full percentage point compared with both August
2013 and July 2014.
"Chevrolet, GMC and Cadillac had an outstanding month with
trucks. Cars and crossovers like the Buick Encore and GMC Acadia,
and the Chevrolet Sonic, Cruze and Traverse, were also strong,"
said Kurt McNeil, U.S. vice president of Sales Operations. "We see
a strong fall selling season ahead for GM and the industry, which
sets the stage for the launches of the Chevrolet Colorado and GMC
Canyon. Car-buying fundamentals like employment and energy prices
are in good shape, consumer confidence has reached a post-recession
high and business investment is increasing."
Nearly 28,000 dealer orders have been placed for the Chevrolet
Colorado, along with 14,000 orders for the GMC Canyon, which both
began production this week and arrive in showrooms this fall.
Chevrolet and GMC will soon be the only brands offering mid-size
pickups, as well as light- and heavy-duty full-size pickups.
Light vehicle sales for the year are now expected to be near the
high-end of GM's full-year outlook set in January, which was for
16.0 million - 16.5 million units.
August Sales Highlights (vs. 2013 except as noted)
• Sales of Chevrolet and GMC large SUVs were up 38 percent.
• Cadillac Escalade deliveries increased 64 percent, for the
vehicle line's best August since 2007.
• Chevrolet Silverado deliveries were up 13 percent and GMC
Sierra sales were up 10 percent, and ATPs improved from July,
according to PIN. This was the best August for GM pickups since
2008.
• The Chevrolet Express van had its best August sales since
2007, with deliveries up 23 percent. The GMC Savana saw a 70
percent increase.
• Chevrolet Sonic deliveries were up 13 percent for the vehicle's best August ever.
• Sales of the Buick Encore small crossover were up 13 percent
and Regal deliveries were up 29 percent.
• In the medium crossover segment, sales of the Chevrolet
Traverse were up 11 percent and GMC Acadia deliveries were up 5
percent.
• Retail deliveries of the Chevrolet Cruze increased 23 percent
and Camaro retail deliveries were up 2 percent.
• GM's ATPs in August were the highest in company history at
about $33,750, according to PIN. ATPs were up $500 per unit
compared with July, and they were up about $2,900 from a year
ago.
GM's gains in the commercial segment were driven by pickup and
van sales, which were up 23 percent and 19 percent, respectively.
Sales to rental customers were up about 3 percent. Sales to
government customers were up about 14 percent. GM's fleet mix in
August was 22 percent. Calendar year to date, GM's fleet mix is 25
percent.
General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce
vehicles in 30 countries, and the company has leadership positions
in the world's largest and fastest-growing automotive markets. GM,
its subsidiaries and joint venture entities sell vehicles under the
Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang, Opel,
Vauxhall and Wuling brands. More information on the company and its
subsidiaries, including OnStar, a global leader in vehicle safety,
security and information services, can be found at
http://www.gm.com
Forward-Looking Statements
In this press release and in related comments by our management,
our use of the words "expect," "anticipate," "possible,"
"potential," "target," "believe," "commit," "intend," "continue,"
"may," "would," "could," "should," "project," "projected,"
"positioned" or similar expressions is intended to identify
forward-looking statements that represent our current judgment
about possible future events. We believe these judgments are
reasonable, but these statements are not guarantees of any events
or financial results, and our actual results may differ materially
due to a variety of important factors. Among other items, such
factors might include: our ability to realize production
efficiencies and to achieve reductions in costs as a result of our
restructuring initiatives and labor modifications; our ability to
maintain quality control over our vehicles and avoid material
vehicle recalls; our ability to maintain adequate liquidity and
financing sources and an appropriate level of debt, including as
required to fund our planned significant investment in new
technology; the ability of our suppliers to timely deliver parts,
components and systems; our ability to realize successful vehicle
applications of new technology; and our ability to continue to
attract new customers, particularly for our new products. GM's most
recent annual report on Form 10-K and quarterly reports on Form
10-Q provides information about these and other factors, which we
may revise or supplement in future reports to the SEC.
CONTACT:
Jim Cain
GM Communications
313-407-2843
james.cain@gm.com
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