- GM’s four brands post their best combined July total and retail sales since 2007
- Chevrolet delivers its best total and retail sales for any July since 2006
- Chevrolet and GMC sold more than 86,000 pickups – best July since 2006
- GMC Sierra and Canyon earned the highest Average Transaction Prices in their segments
- Buick sales up 18 percent on strong crossover demand
- Large planned reductions in daily rental deliveries continue
DETROIT – General Motor’s (NYSE: GM) Chevrolet, Buick, GMC and Cadillac brands sold 272,512 vehicles in the United States in July 2015, a 6 percent increase and the four brands’ best combined July since 2007. The month was paced by an 18 percent increase in Buick sales, a 1 percent increase at GMC and an 8 percent increase in Chevrolet sales. Chevrolet’s results included a 24 percent increase in pickup, van and SUV sales, and the brand’s best July crossover sales ever.
Company-wide, retail deliveries climbed 14 percent year over year, and the company gained retail market share for the fourth month in a row thanks to a 16 percent gain at Chevrolet, a 15 percent gain at GMC and a 12 percent increase at Buick. The month was GM’s best July for retail sales since 2007.
Fleet deliveries in July were down 20 percent year over year, as the company continues to execute its plan to reduce sales to rental customers and grow commercial and government deliveries. Government sales were up 38 percent, with deliveries to state and local governments up 59 percent. Commercial deliveries were up year over year for the 21st consecutive month. Rental deliveries were down 36 percent.
“The second half of 2015 is off to a great start, with industry sales above expectations,” said Kurt McNeil, GM’s U.S. vice president of Sales Operations. “GM has been steadily growing its commercial sales and retail market share, thanks to our strong truck and crossover portfolio. We feel very good about our truck strategy heading into the late summer and fall, when those segments usually heat up. We are the only manufacturer that has completely revamped its entire lineup of large SUVs, and mid-size, light duty and heavy duty pickups.”
July Sales Highlights vs. 2014 (except as noted)
- Chevrolet had its best July sales since 2006. Crossover deliveries have increased year over year for eight consecutive months and truck sales have increased for fifteen consecutive months.
- Pickup deliveries were up 51 percent. The Silverado was up 34 percent and Colorado sales were 7,209 units. The Colorado remains America’s fastest-selling pickup with a “days to turn” of 16 days.
- Chevrolet had its best July crossover sales ever. The Traverse was up 32 percent, and the Trax had its best month since launch with 6,111 units delivered.
- Malibu sales were up 18 percent and Cruze sales were up 2 percent.
- GMC had its best July sales since 2005.
- GMC pickup deliveries were up 28 percent, and the Sierra and Canyon have the highest average transaction prices (ATPs) in their respective segments, according to J.D. Power PIN estimates. The Sierra enjoys the highest ATPs of any pickup in the industry.
- The Acadia, GMC’s flagship crossover, was up 32 percent, for its best month ever.
- Buick had its best July sales since 2006.
- Encore deliveries were up 68 percent for the small crossover’s 19th consecutive year-over-year sales increase. Sales of Buick’s other crossover, the Enclave, were up 25 percent, for its best July ever.
- Regal sedan deliveries were up 24 percent.
- CTS sedan deliveries were up 18 percent; the SRX crossover was up 47 percent for its best July ever.
Fleet and Commercial
- Rental deliveries in July were down approximately 13,500 units. A year-over-year decline in the range of 15,000 – 17,000 units is expected in August.
- In the second half of the year, planned reductions in rental deliveries are expected to total more than 60,000 units. Rental deliveries in the first half of the year were down more than 18,000 units.
- GM continues to prioritize retail sales of its new full-size Chevrolet and GMC SUVs. Retail deliveries were up 6 percent while fleet deliveries were down 68 percent.
- Calendar year to date, commercial deliveries are up 17 percent, government sales are up 4 percent and rental deliveries are down 11 percent. Total fleet deliveries are down 2 percent.
- Pickup sales to fleets have increased year over year for 15 straight months due to strong demand from commercial and government customers. Commercial pickup sales are up 33 percent calendar year to date.
- The Silverado was up 35 percent, and the truck had its best July retail sales since 2006.
- Tahoe deliveries were up 16 percent and Suburban deliveries were up 15 percent. Tahoe had its best July retail sales since 2008.
- Traverse was up 10 percent for its best July retail sales ever.
- Impala deliveries were up 9 percent and Malibu deliveries were up 25 percent. Both cars had their best July retail sales since 2010.
- GMC has grown its retail sales for 18 consecutive months.
- The Acadia was up 29 percent.
- Encore deliveries were up 63 percent and Regal was up 31 percent.
- SRX was up 42 percent and CTS sedan sales were up 19 percent.
Average Transaction Prices (PIN)
- ATPs continue to be strong. GM’s July ATPs were $33,800, up about $200 month over month, and about $530 year over year.
- The ongoing success of the Chevrolet Silverado and GMC Sierra helped drive the ATP increase; full-size pickup truck ATPs were up $230 month over month and more than $1,000 year over year.
- Calendar year to date, GM’s incentive spending was 10.9 percent of ATP, up 0.2 percentage points, in line with the industry change.
- In July, GM’s incentive spending was 12.5 percent of ATP, up 0.4 percentage points from June 2015; the industry was up 0.3 percentage points.
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
In this press release and in related comments by our management, our use of the words “expect,” “plan,” “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.