Total, retail and commercial share up
Chevrolet, Buick, GMC, Cadillac, OnStar and GM Financial Expand Hurricane Relief Efforts
DETROIT — General Motors (NYSE: GM) today reported U.S. August deliveries of 275,552 vehicles, up 7.5 percent from a year ago. Retail deliveries were up 4 percent, and the company estimates that it gained more than one-half point of retail market share.
U.S. Commercial fleet deliveries were up 19 percent, and the company has gained domestic Commercial market share for 13 consecutive months. Total fleet deliveries were up 24 percent.
“We had a very strong month, and grew our retail and commercial fleet business on the strength of robust crossover sales at all four of our brands,” said Kurt McNeil, U.S. vice president of Sales Operations. “But our focus is on the unfolding crisis in Texas and what we can do to help our customers, employees, dealers and everyone else impacted by the flooding.”
Alan Batey, president of GM North America, added, “During this crisis, we have seen remarkable acts of bravery and compassion. People are pulling together and helping total strangers like they’ve been neighbors all their lives. It’s inspiring and we are there for all of you.”
Since the storm, GM has marshaled teams from Chevrolet, Buick, GMC, Cadillac, OnStar, GM Financial and Customer Care & Aftersales to help with current and future needs across the region.
Among the initiatives:
- GM is offering its OnStar Crisis Assist service to drivers of close to one million GM vehicles in parts of Texas and Louisiana. By pressing the blue OnStar button, customers will be connected to advisors who can provide temporary no-charge access to emergency services, phone and guidance services and 4G LTE Wi-Fi service (provided by AT&T).
- GM Financial is assisting impacted customers with payment arrangements and waiving related fees. Eligible customers who are replacing a vehicle may qualify for a 90-day deferred first payment.
- The company is moving used vehicle inventory to Chevrolet, Buick, GMC and Cadillac dealerships so that people with flood-damaged vehicles have access to rental cars and courtesy transportation.
- The Customer Care & Aftersales team, including ACDelco, are working to expedite the shipment of service parts, including electronic components, engines, transmissions and batteries to the region.
- Chevrolet, Buick, GMC and Cadillac are offering $1,000 in Disaster Relief Assistance to customers in the most heavily impacted areas of Texas and Louisiana through Oct. 2, 2017. This money can be applied by anyone toward the purchase of a new vehicle, and it can be used in addition to all other retail incentives in the market.
- OnStar has handled more than 23,000 calls for assistance from GM customers and is helping to support the American Red Cross with its unusually high call volume because of Hurricane Harvey. GM has donated $1 million to the American Red Cross to provide immediate support to disaster relief efforts around the country, and it has set up a donation web link for employees, who have contributed more than $50,000 in less than four days.
Employees from GM facilities in Arlington and Fort Worth are filling three semi-trailers full of personal care items, bottled water and non-perishable food.
Chevrolet, Buick, GMC and Cadillac are launching websites to give customers easy access to all of the things the brands are doing to help the recovery effort.
August Retail Highlights (vs. August 2016 unless noted)
- Best August since 2004 and best August crossover month ever.
- The Traverse was up 83 percent, for its best month ever.
- The Equinox was up 67 percent.
- The Trax was up 11 percent, for its best August ever.
- The Chevrolet Bolt EV had its strongest sales ever, with 2,052 deliveries.
- According to PIN data, the Volt and Bolt EV combined for 46 percent of non-luxury, electric vehicle sales in August.
- Silverado LD crew cab was up 21 percent.
- The Impala was up 63 percent.
- The Encore, up 31 percent, had its best month ever.
- The Envision, up 78 percent, had its best August ever.
- GMC’s ATPs hit a year-to-date record of $43,400, thanks the best-ever mix of Denali models.
- August deliveries of the Acadia were up 36 percent, for its best August ever, and sales have now grown year over year for 12 consecutive months.
- Sales of the Terrain were up 66 percent, with shipments of the all-new 2018 model starting to grow.
- Sierra LD crew cab was up 21 percent.
- The XT5 crossover was up 28 percent, for its second best month since launch, bringing the combined SRX/XT5 year to date sales up 10 percent.
- August ATP was up nearly $1,400 to $53,300.
- U.S. inventory levels are down about 85,000 vehicles from the end of June to about 893,000 vehicles.
- The company is on track to meet its inventory target, which is to end the year with stocks at or below last year’s level of about 850,000 vehicles, with fewer cars and more trucks, crossovers and utilities in the mix.
- According to JD Power PIN estimates, GM’s August incentive spending as a percent of ATP was 13.9 percent, in line with its domestic competitors.
- Year to date, GM has the lowest daily rental mix of any full-line automaker at about 8 percent of total sales. GM remains on track to decrease daily rental sales by 50,000 units in 2017.
“Hurricane Harvey did have an adverse effect on deliveries during the last week of August for every automaker but the key U.S. economic fundamentals remain supportive of strong vehicle sales,” said Mustafa Mohatarem, GM chief economist. “With the U.S. economy strengthening, we anticipate retail sales will be strong for the foreseeable future.”
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 https://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 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 GM Financial’s European financing subsidiaries and branches to the Groupe PSA, 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.