DETROIT — General Motors (NYSE: GM), which ended 2017 as the automaker with the fastest-growing crossover sales in the United States, today reported a 20 percent year-over-year gain in the segment in January, along with a 7 percent increase in truck deliveries. GM total sales in January totaled 198,548 units, up more than 1 percent.
Demand for Chevrolet trucks and crossovers was very robust, helping the brand increase deliveries by 5 percent year over year:
- Chevrolet was the fastest-growing crossover brand of 2017, and January deliveries were up 40 percent. The all-new Equinox and Traverse, as well as the Trax and Bolt EV, all posted their best-ever January sales.
- Chevrolet’s unique three-truck pickup strategy delivered a 17 percent increase in deliveries, with the Colorado up 25 percent and the Silverado up 15 percent. It was the best January ever for Silverado crew cabs.
- Chevrolet Tahoe deliveries were up 22 percent.
“All of our brands are building momentum in the industry’s hottest and most profitable segments,” said Kurt McNeil, U.S. vice president, Sales Operations. “Chevrolet led the growth of the small crossover segment with the Trax as well as the mid-pickup segment with the Colorado. Now, we have the all-new Equinox and Traverse delivering higher sales, share and transaction prices.”
Buick and GMC
Buick and GMC were major contributors to GM’s year-over-year growth in crossover sales and total sales. Buick also saw a major acceleration in LaCrosse deliveries, which contributed to a year-over-year sales increase of 4 percent for the brand.
- The GMC Terrain, which is all new for 2018, saw a 14 percent increase.
- The GMC Canyon posted a 5 percent gain.
- Buick Envision sales were up 14 percent for the vehicle’s best January yet.
- Buick LaCrosse sales more than doubled to 3,006 units.
Buick’s crossover momentum will continue to grow with greater availability of the redesigned Enclave, launched late last year, and the Regal TourX, which began arriving in dealerships in January.
Cadillac was strong in several segments, helping the brand earn a 9 percent increase in retail deliveries.
- Retail sales of the Escalade were up 12 percent year over year, the vehicle gained more than 2 points of retail segment share and ATPs rose by about $2,300.
- In addition, retail deliveries of the Cadillac XT5 crossover rose 9 percent, and the ATS and XTS were up 18 percent and 30 percent, respectively.
Other GM Highlights (vs. 2017)
- Retail deliveries were down 2 percent and retail mix of total sales was 76 percent.
- Fleet sales were up 16 percent, with combined Commercial and Government deliveries up 44 percent and daily rental deliveries down 7 percent.
- GM’s incentive spending was 12.8 percent, down 1 point from a year ago, and down 2 points month over month, according to J.D. Power PIN estimates.
- Average transaction prices were up $1,270 year-over-year, according to J.D. Power PIN estimates.
General Motors Co. (NYSE:GM) 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
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 and cost-efficiently restructure operations in various countries with minimal disruption; (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.