DETROIT, July 3, 2017 /PRNewswire/ --
- Crossover retail sales up 23 percent on strength of
Equinox
- Buick U.S. retail sales up 6 percent
- Commercial sales up 36 percent, for best June since
2006
- Lowest daily rental sales mix of any full-line
automaker
General Motors (NYSE: GM) today reported June U.S. retail sales
of 202,908 vehicles, down about 3 percent from the same period last
year. However, in the fastest growing U.S. retail market segment,
GM's crossover retail sales were up 23 percent, due largely to the
strength of Chevrolet Equinox, which were up 36 percent.
Buick's U.S. retail sales were up 6 percent.
GM's U.S. Commercial sales were up 36 percent, for its best June
since 2006. Commercial and Government sales were 77 percent
of GM's fleet sales for the month. U.S. daily rental sales
were down nearly 11,000 vehicles or 54 percent in June, as
planned.
GM's June total sales were 243,155 vehicles, down about 5
percent from the same period last year.
GM's mid crossovers, compact crossovers and utilities were up a
combined 22 percent on a U.S. retail sales basis compared to the
same period last year. This strong performance was carried
throughout the Chevrolet, Buick, GMC and Cadillac lineups:
- Chevrolet Suburban – up 9 percent
- Chevrolet Tahoe – up 15 percent
- Chevrolet Equinox - up 36 percent
- Chevrolet Traverse – up 71 percent
- Chevrolet Bolt EV – delivered 1,425 vehicles.
- Buick Enclave –up 10 percent
- Buick Encore – up 8 percent
- Buick Envision - up 101 percent
- GMC Acadia – up 25 percent
- Cadillac Escalade – up 14 percent
- Cadillac XT5 – up 29 percent
General Motors is in the midst of launching the most all-new
crossover offerings into the U.S. market in its history.
"Our crossover renaissance began last year with the introduction
of the all-new GMC Acadia and Cadillac XT5, and continued this year
with the Chevrolet Bolt EV and Equinox," said Kurt McNeil, U.S. vice president of Sales
Operations. "The all-new Equinox is off to a strong start and we
will leverage that momentum as we introduce four additional
crossovers in the second half of 2017."
By the end of 2017, GM will offer customers the U.S. industry's
newest and broadest lineup of crossovers.
"U.S. total sales are moderating due to an industry-wide
pull-back in daily rental sales, but key U.S. economic fundamentals
clearly remain positive," said Mustafa Mohatarem, GM chief
economist. "Under the current economic conditions, we anticipate
U.S. retail vehicle sales will remain strong for the foreseeable
future."
June Business Highlights (vs. June
2016)
- According to J.D Power PIN estimates, GM's incentive spending
as a percentage of average transaction prices (ATP) was 12.0
percent in June, equal to our 2016 calendar year average, and lower
than any domestic and many Asian competitors.
- ATPs were $35,657, up nearly
$400 per vehicle.
First Half Highlights (vs. First Half 2016)
- GM's U.S. retail sales are on pace with last year's
performance.
- Q2 incentive spend was about 12 percent, down two full
percentage points from Q1.
- Q2 ATPs are up about $800 over
Q1, due to a higher truck/crossover mix and lower incentives.
- Crossover retail sales were up 23 percent, the highest first
half in GM history.
- Buick's U.S. retail sales were up 8 percent.
- Commercial sales were up 8 percent, in a segment that's down 5
percent.
- Government sales were up 1 percent, in a segment that's down 9
percent.
- Daily rental sales were down nearly 31,000 vehicles or 21
percent.
- Daily rental sales mix was in a range of about 8 percent, the
lowest among full-line automakers in the U.S. industry.
- Combined XT5 and SRX sales are up 18 percent year to date, the
highest first half for Cadillac crossovers.
- Best Cruze retail sales since 2014.
- Best Volt retail sales in history.
- Best Colorado retail sales
since 2005.
- Best Traverse retail sales in history.
- Best Acadia retail sales in history.
From an industry standpoint, GM expects the second half of 2017
will be stronger than the first half. Pickup and utility
sales, GM's strength, are expected to be stronger in the second
half of the year.
June Brand Retail Highlights (vs. 2016)
Chevrolet
- Corvette and Cruze were up 4 percent and 3 percent,
respectively.
- Colorado was up 3
percent.
- Equinox had its best June ever.
- Crossover sales were up 42 percent.
- Silverado total sales are up 2 percent and retail sales are up
1 percent.
- Best Silverado month of the year for total sales.
Buick
- Lacrosse was up 39 percent.
- Crossover sales were up 21 percent.
GMC
- ATPs were up $1,067 to
$44,539.
- Best Denali month ever – over 31 percent of retail sales.
Cadillac
- CT6 was up 4 percent.
- ATPs were up $2,300 to
$56,301.
Guidance on U.S. Vehicle Inventory Levels
- We anticipate we will end 2017 with approximately the same day
supply of vehicles as we did at the end of 2016 with fewer cars and
more trucks and crossovers in the mix.
- Pickup and utility sales, GM's strength, are expected to be
stronger in the second half of the year.
- We will continue to monitor the marketplace and will make
additional production adjustments if needed.
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
This press release and
related comments by management may include forward-looking
statements. These statements are based on current
expectations about possible future events and thus are inherently
uncertain. Our actual results may differ materially from
forward-looking statements due to a variety of factors, including:
(1) our ability to deliver new products, services and experiences
that attract new, and are desired by existing, customers and to
effectively compete in autonomous, ride-sharing and transportation
as a service; (2) sales of full-size pick-up trucks and SUVs, which
may be affected by increases in the price of oil; (3) the
volatility of global sales and operations; (4) aggressive
competition, including the impact of new market entrants; (5)
changes in, or the introduction of novel interpretations of, laws,
regulations or policies particularly those relating to free trade
agreements, tax rates and vehicle safety and any government actions
that may affect the production, licensing, distribution, pricing,
or selling of our products; (6) our joint ventures, which we cannot
operate solely for our benefit and over which we may have limited
control; (7) compliance with laws and regulations applicable to our
industry, including those regarding fuel economy and emissions; (8)
costs and risks associated with litigation and government
investigations; (9) compliance with the terms of the Deferred
Prosecution Agreement; (10) our ability to maintain quality control
over our vehicles and avoid recalls and the cost and effect on our
reputation and products; (11) the ability of suppliers to deliver
parts, systems and components without disruption and on schedule;
(12) our dependence on our manufacturing facilities; (13) our
ability to realize production efficiencies and cost reductions;
(14) our ability to successfully restructure operations in various
countries; (15) our ability to manage risks related to security
breaches and other disruptions to vehicles, information technology
networks and systems; (16) our ability to develop captive financing
capability through GM Financial; (17) significant increases in
pension expense or projected pension contributions; (18)
significant changes in the economic, political, and regulatory
environment, market conditions, and foreign currency exchange
rates; and (19) uncertainties associated with the consummation of
the sale of Opel/Vauxhall to the PSA Group, including satisfaction
of the closing conditions. A further list and description of
these risks, uncertainties and other factors can be found in our
Annual Report on Form 10-K for the fiscal year ended December 31, 2016, and our subsequent filings
with the Securities and Exchange Commission. GM cautions
readers not to place undue reliance on forward-looking statements.
GM undertakes no obligation to update publicly or otherwise revise
any forward-looking statements.
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SOURCE General Motors