- Chevrolet, Buick and Cadillac June retail sales up 3 percent, 2 percent and 5 percent, respectively
- GM retail sales up more than 1 percent and retail share up year-over-year
- Year to date, GM retail sales up more than 1 percent; retail share up 0.4 percentage points
- Less profitable daily rental deliveries down 5,690 vehicles or 22 percent in June, as planned
DETROIT – General Motors (NYSE: GM) sold 209,295 vehicles to individual or “retail” customers in June, up more than 1 percent year-over-year, driven by increases at Chevrolet, Buick and Cadillac of 3 percent, 2 percent and 5 percent, respectively. Based on initial estimates, GM gained 0.1 percentage points of retail share in June to remain the fastest growing full-line automaker. GM has gained retail market share in 13 of the past 14 months, dating to April 2015. Less profitable daily rental sales were down 5,690 vehicles or 22 percent, as planned. GM’s total sales in June were down less than 2 percent to 255,210 vehicles.
Through the first six months of the year, GM retail sales are up more than 1 percent and retail share is up 0.4 percentage points, the largest retail share gain of any full-line automaker and more than double the industry’s average over that timeframe. Year to date, Chevrolet retail sales are up 3 percent and retail share has grown 0.5 percentage points. Chevrolet remains the fastest-growing full-line brand in the industry. Year to date, Buick retail deliveries have grown 4 percent and Buick has gained 0.1 percentage points of retail share.
GM’s retail sales strength is reflected in the ongoing sales performance of the Chevrolet Silverado and GMC Sierra full-size pickups. Every month since January 2014, GM has sold more full-size pickups than any other original equipment manufacturer, according to Polk retail registrations and J.D. Power PIN retail sales data. GM is achieving these results while spending less on incentives than its competitors and commanding record Average Transaction Prices (ATPs). In June, GM full-size pickup ATPs were up $3,300 compared to last year and Silverado recorded its highest monthly ATP in history. Year to date, GM full-size pickup ATPs are up $2,600 compared to last year.
“Our retail-focused strategy is resulting in the highest share gains in the industry. Chevrolet is the fastest growing full-line brand and we expect that trend to continue as the availability of newly launched products improves in the second half of the year,” said Kurt McNeil, U.S. vice president of Sales Operations. “Our reduction in daily rental deliveries, disciplined incentive spending and well-managed inventories are showing real benefit in the residual values of our latest launched vehicles.”
GM expects better availability of midsize pickups, full-size pickups and small, compact and midsize crossovers in the second half of the year due to planned production schedules.
As part of its retail-focused strategy, GM continues to reduce daily rental deliveries, as planned. Year to date, GM’s daily rental deliveries are down about 88,499 vehicles or 37 percent from a year ago.
In addition, GM continues to capitalize on a strong, stable economy that is driving sales to small businesses.
“Positive economic indicators like historically low interest rates, stable fuel prices, rising wages and near-full employment provide the environment for strong auto sales to continue in the second half of the year,” said Mustafa Mohatarem, GM’s chief economist. “These positive factors continue to point toward another record year for the industry.”
- Chevrolet had its best June since 2006
- Colorado, Suburban, Tahoe and Trax up 27 percent, 37 percent, 25 percent and 23 percent, respectively
- Impala, Sonic, Spark and Volt up 77 percent, 41 percent, 96 percent and 57 percent, respectively
- Impala had its best month since September 2008
- Sonic had its best June ever
- Tahoe and Suburban had their best June performance since 2008
- Colorado had its best June since 2006
- Silverado Crew Cab had its best June since 2005
- Silverado Heavy Duty had its best year to date since 2008
- Canyon, Yukon XL, Yukon up 34 percent, 13 percent and 21 percent, respectively
- Denali had its highest penetration of the year at more than 25 percent of GMC sales, maintaining the best first-half penetration on record
- Year to date, Canyon, Sierra, Yukon and Yukon XL are up 15 percent, 4 percent, 16 percent and 9 percent, respectively
- June was the second highest monthly ATP ever for the brand
- Yukon has its 10th consecutive month of year-over-year increases
- Best Sierra year-to-date sales since 2006
- Encore up 25 percent for the 30th consecutive month of year-over-year increases
- Cascada and Envision are off to strong starts with 755 and 1,436 deliveries, respectively
- Escalade up 21 percent
- Launch products off to a strong start — 3,844 XT5’s and 958 CT6’s were sold in June
- ATPs were approximately $55,000, the highest in the luxury segment
Average Transaction Prices (ATP)/Incentives (J.D. Power PIN estimates)
- GM’s ATPs, which reflect retail transaction prices after sales incentives, were $35,423, more than $4,400 above the industry average and more than $1,800 above last June’s performance
- GM’s incentive spending as a percentage of ATPs was 10.1 percent in June, well below domestic and many Asian competitors and below the industry average of 10.6 percent
Fleet and Commercial
- GM’s fleet mix in June was approximately 18 percent of total sales, below the company’s full-year guidance of 20 percent
- Commercial sales were down 7 percent, compared to last June. Calendar year-to-date, Commercial sales are up 4 percent, driven by mid pickup sales up 31 percent and full-size pickup sales up 12 percent
- Government sales were up 8 percent in June. Year to date, Government sales are up 10 percent
- Small business sales were up 2 percent and up 5 percent year to date
- GM estimates that the seasonally adjusted annual selling rate (SAAR) for light vehicles in June was 17.0 million units. On a calendar year-to-date basis, GM estimates the light vehicle SAAR was 17.3 million units
- Year to date, industry sales are up 1 percent, compared to 2015
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
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