DETROIT, May 3, 2016 /PRNewswire/ --
- Chevrolet remains the industry's fastest-growing full-line
brand of 2016 with retail sales up 4 percent in April
- Buick's retail sales up 13
percent; GMC retail sales up 5 percent
- Commercial deliveries up for 30th consecutive
month
- Daily rental deliveries down nearly 18,000 units, or 39
percent
General Motors (NYSE: GM) delivered 200,656 vehicles in April to
individual or "retail" customers, up 3 percent year-over-year,
driven by an 13 percent increase at Buick, 5 percent increase at GMC and a 4
percent increase at Chevrolet. GM's Commercial deliveries were up
for the 30th consecutive month while daily rental sales
were down nearly 18,000 vehicles. GM total sales were down about 4
percent to 259,557 vehicles.
GM has grown retail deliveries year-over-year every month since
April 2015 and retail sales during
the last 12 months were up 9 percent, more than double the
industry's 4 percent increase during that timeframe. Chevrolet
was the fastest-growing full-line franchise in the U.S. industry in
2015 and holds that honor again so far this year, based on
R.L. Polk retail registrations.
Chevrolet had its best April for retail sales since 2006.
Through the first four months of the year, Chevrolet retail
sales are up 9 percent. The all-new Malibu is having a major
impact, with retail deliveries up 53 percent year to date and
45 percent in April. According to J.D. Power PIN, Malibu has
nearly doubled its retail share from 5 percent in 2015 to 10
percent year to date. In addition, the new Cruze is beginning to
arrive in dealers showrooms.
Buick has grown retail
registrations faster this year than all but one other major brand,
according to R.L. Polk, and posted a
13 percent year-over-year gain in April. Year to date, Buick retail deliveries are up 10 percent.
"GM's retail growth over the last 12 months has outpaced the
industry by a wide margin because our redesigned large pickups and
SUVs are hits, we made smart investments in new segments like small
crossovers and mid-size pickups, and our momentum in the car
business is accelerating with each new model introduction," said
Kurt McNeil, U.S. vice president of
Sales Operations. "GM bucked the industry trend with flat year-over
incentives, we are managing with lean inventories and our
Commercial and Government fleet business is growing."
Looking ahead to May, GM expects to continue executing its
retail-focused sales plan, and maintain disciplined inventories and
incentives. The company's deliveries to daily rental customers,
which are less profitable than retail deliveries, are expected to
be down approximately 18,000 to 20,000 units, year over year, which
will make May the largest single-month decline of 2015-2016.
Calendar year to date through April, GM's rental deliveries are
down more than 61,000 units from a year ago, as planned.
April Retail Sales and Business Highlights vs. 2015 (except
as noted)
Chevrolet
- The brand had its best retail April since 2006.
- Car sales were up 4 percent, with the Camaro up 13 percent,
Malibu up 45 percent, Spark up 2 percent and Volt up 139
percent.
- Truck sales were up 19 percent, with the Colorado up 55 percent, Silverado up 14
percent, Suburban up 16 percent and Tahoe up 8 percent.
- The Trax crossover was up 46 percent.
- Malibu has its best year-to-date sales since 1980.
- Silverado had its best April since 2006.
- Tahoe and Suburban had their best year-to-date sales since
2008.
- Colorado had its best month
since launch of the all-new model.
GMC
- The brand had its best April since 2004.
- The Sierra had its best April ever, with deliveries up 14
percent, the Canyon was up 23 percent, and the Yukon had its 8th consecutive month
of year-over-year growth, with deliveries up 13 percent. Yukon XL
was up 8 percent.
Buick
- The brand had its best April and calendar-year-to-date sales
since 2005
- The Encore was up 39 percent, Enclave up 2 percent
- Buick sold 1,090 Cascada
convertibles in April, the second full month in the market.
Cadillac
- Cadillac ATPs were $54,600 in
April, up approximately $1,600 from
last year.
- The Cadillac ATS, CTS and XTS all gained year-over-year retail
market share in their respective segments.
Average Transaction Prices (ATP)/Incentives (J.D. Power PIN
estimates)
- GM's ATPs, which reflect retail transaction prices after sales
incentives, were $35,400 in April,
more than $4,200 above the industry
average.
- GM's incentive spending as a percentage of ATPs was 10.3
percent in April, well below domestic and many Asian competitors
and in line with the industry average of 10.2 percent.
- The industry increased incentives year over year by 0.7
percentage points, while GM incentives were in-line with a year
ago.
Fleet and Commercial
- GM's fleet mix in April was approximately 23 percent of total
sales, in line with the company's full-year guidance of 20
percent.
- Commercial sales grew 4 percent, for the best Commercial month
since 2008. Government sales were up 21 percent and daily rental
deliveries were down 39 percent.
- Small business deliveries were up 20 percent in April and 10
percent calendar-year-to-date.
Industry Sales
- GM estimates that the seasonally adjusted annual selling rate
(SAAR) for light vehicles in April was 17.6 million units. On a
calendar-year-to-date basis, GM estimates the light vehicle SAAR
was 17.4 million units.
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 related comments by management, and in
reports we subsequently file and have previously filed with the SEC
on Forms 10-K and 10-Q and file or furnish on Form 8-K, and in
related comments by our management, we use words like "anticipate,"
"appears," "approximately," "believe," "continue," "could,"
"designed," "effect," "estimate," "evaluate," "expect," "forecast,"
"goal," "initiative," "intend," "may," "objective," "outlook,"
"plan," "potential," "priorities," "project," "pursue," "seek,"
"will," "should," "target," "when," "would," or the negative of any
of those words or similar expressions to identify forward-looking
statements that represent our current judgment about possible
future events. In making these statements we rely on assumptions
and analyses based on our experience and perception of historical
trends, current conditions and expected future developments as well
as other factors we consider appropriate under the circumstances.
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, both positive and negative. These factors, which may be
revised or supplemented in subsequent reports on SEC Forms 10-Q and
8-K, include, among others: (1) our ability to maintain
profitability over the long-term, including our ability to fund and
introduce new and improved vehicle models that are able to attract
a sufficient number of consumers; (2) the success of our full-size
pick-up trucks and SUVs; (3) global automobile market sales volume,
which can be volatile; (4) the results of our joint ventures, which
we cannot operate solely for our benefit and over which we may have
limited control; (5) our ability to realize production efficiencies
and to achieve reductions in costs as we implement operating
effectiveness initiatives throughout our automotive operations; (6)
our ability to maintain quality control over our vehicles and avoid
material vehicle recalls and the cost and effect on our reputation
and products; (7) our ability to maintain adequate liquidity and
financing sources including as required to fund our new technology;
(8) our ability to realize successful vehicle applications of new
technology and our ability to deliver new products, services and
customer experiences in response to new participants in the
automotive industry; (9) volatility in the price of oil; (10) the
ability of our suppliers to deliver parts, systems and components
without disruption and at such times to allow us to meet production
schedules; (11) risks associated with our manufacturing facilities
around the world; (12) our ability to manage the distribution
channels for our products; (13) our ability to successfully
restructure our operations in various countries; (14) the continued
availability of wholesale and retail financing in markets in which
we operate to support the sale of our vehicles, which is dependent
on those entities' ability to obtain funding and their continued
willingness to provide financing; (15) changes in economic
conditions, commodity prices, housing prices, foreign currency
exchange rates or political stability in the markets in which we
operate; (16) significant changes in the competitive environment,
including the effect of competition and excess manufacturing
capacity in our markets, on our pricing policies or use of
incentives and the introduction of new and improved vehicle models
by our competitors; (17) significant changes in economic,
political, regulatory environment and market conditions in
China, including the effect of
competition from new market entrants, on our vehicle sales and
market position in China; (18)
changes in existing, or the adoption of new, laws, regulations,
policies or other activities of governments, agencies and similar
organizations, particularly laws, regulations and policies relating
to vehicle safety including recalls, and including such actions
that may affect the production, licensing, distribution or sale of
our products, the cost thereof or applicable tax rates; (19)
stricter or novel interpretations and consequent enforcement of
existing laws, regulations and policies; (20) costs and risks
associated with litigation and government investigations including
the potential imposition of damages, substantial fines, civil
lawsuits and criminal penalties, interruptions of business,
modification of business practices, equitable remedies and other
sanctions against us in connection with various legal proceedings
and investigations relating to our various recalls; (21) our
ability to comply with the terms of the DPA; (22) our ability to
manage risks related to security breaches and other disruptions to
our vehicles, information technology networks and systems; (23)
significant increases in our pension expense or projected pension
contributions resulting from changes in the value of plan assets,
the discount rate applied to value the pension liabilities or
mortality or other assumption changes; (24) our continued ability
to develop captive financing capability through GM Financial; and
(25) changes in accounting principles, or their application or
interpretation, and our ability to make estimates and the
assumptions underlying the estimates, which could have an effect on
earnings.
We caution readers not to place undue reliance on
forward-looking statements. We undertake no obligation to update
publicly or otherwise revise any forward-looking statements,
whether as a result of new information, future events or other
factors that affect the subject of these statements, except where
we are expressly required to do so by law.
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SOURCE General Motors