DETROIT, Nov. 1, 2017 /PRNewswire/ -- General Motors
(NYSE: GM) today reported 252,813 deliveries in the United States in October.
- Pickup deliveries totaled 84,902 units, up 9 percent year over
year, led by the Chevrolet Silverado and GMC Sierra.
- Crossover deliveries totaled 82,235 units, up 12 percent year
over year, driven by the highest October sales ever for five
different models: the Chevrolet Equinox and Traverse, the GMC
Acadia and the Buick Encore and Enclave.
- Combined Cadillac SRX and XT5 sales were up 17 percent.
- The Chevrolet Bolt EV and Buick Encore had their best months
ever.
- Combined Commercial and Government deliveries were up 10
percent year over year, and 11 percent calendar year to date.
Selling-day adjusted sales were up 2 percent. Total sales were
down 2 percent, reflecting lower passenger cars deliveries and one
fewer selling day year over year.
Retail Share Momentum
Exceptionally strong crossover deliveries at Chevrolet, Buick
and Cadillac helped the company achieve an estimated retail market
share of 17 percent or more for the third consecutive month. The
last time GM delivered three consecutive months at or above a 17
percent retail share was July-September
2011.
Three crossovers reported massive year-over-year retail sales
increases for the month: the Chevrolet Traverse was up 59 percent,
the Chevrolet Equinox was up 22 percent and the Buick Enclave was
up 75 percent. The GMC Sierra pickup also posted a large
23 percent increase in retail sales.
"We are heading into the fourth quarter with good momentum,
thanks to a strong U.S. economy and very strong pickup and
crossover sales. In fact, Chevrolet and GMC have some of the
fastest-turning crossovers in the industry," said Kurt McNeil, U.S. vice president of Sales
Operations. "The all-new Chevrolet Equinox is off to a great start
and we could have sold even more if we had more available. We also
see tremendous upside with the launches of the 2018 GMC Terrain,
Chevrolet Traverse and Buick Enclave. They are arriving in
showrooms at the same time consumer confidence is at its highest
level since 2000. Small business optimism has also stayed very high
since last fall, and that bodes well for pickup and van sales."
Customer demand for trucks and crossovers, combined with
incentive spending discipline, is driving strong average
transaction prices (ATP) for GM vehicles. GM's October ATPs, which
are net of incentive spending, were more than $36,000, about $1,000 per unit higher than the third quarter
average.
The GMC brand, which grew total and retail sales during the
month, had its highest ATPs ever, driven by the success of Denali
models, which reached 30 percent of retail sales.
Supplemental Data
- GM reduced month-end inventory from September and is on track
to close 2017 with significantly fewer vehicles in stock than in
December 2016.
- Daily rental sales in 2017 are expected to be down about 50,000
units year over year.
- GM's October incentive spending as a percent of ATP was an
estimated 13.5 percent, according to JD Power PIN estimates, down
from the third quarter estimate of 13.7 percent. Spending is down
about one percentage point from September.
General Motors Co. (NYSE:GM, TSX: GMM) 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, 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; and (18)
significant changes in the economic, political, and regulatory
environment, market conditions, and foreign currency exchange
rates. 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.
View original
content:http://www.prnewswire.com/news-releases/for-the-first-time-since-2011-gms-retail-market-share-tops-17-percent-for-three-consecutive-months-300547363.html
SOURCE General Motors