DETROIT, Dec. 1, 2017 /PRNewswire/ -- General Motors
(NYSE: GM) today reported 245,387 deliveries in the United States in November, with large
year-over-year increases in sales of Chevrolet, Cadillac, Buick and
GMC crossovers to individual "retail" customers.
- Chevrolet crossovers were up 16 percent, driven by a 59 percent
increase for the Traverse, which had its best November retail and
total sales ever. The Bolt EV had its best month yet.
- The Cadillac XT5 was up 11 percent.
- Buick crossovers were up 20 percent after Enclave deliveries
more than doubled. Envision deliveries were up 2 percent.
- Buick's new Avenir premium sub-brand is off to a strong start.
About 30 percent of 2018 Enclave deliveries are Avenir models.
- GMC crossovers were up 11 percent, driven by a 4 percent
increase for the Acadia and a 20 percent increase for the Terrain,
which gained a full point of segment share month over month as
availability grew.
Overall retail sales were essentially equal to last November.
Commercial and government deliveries were up a combined 7 percent,
driven by a 30 percent increase in full-size pickup sales and a 35
percent increase for the Chevrolet Tahoe PPV (Police Pursuit
Vehicle). Total fleet sales were down 13 percent after a
24 percent reduction in daily rental deliveries. Total sales
were down 3 percent.
Crossovers, strong SUV sales and a record November for GMC
Denali sales helped the company's average transaction prices (ATPs)
surpass $37,000 for the first time
ever. GM's ATPs were about $4,500
above the industry average and nearly $2,000 higher than any domestic competitor.
Chevrolet Momentum
Retail sales for Chevrolet were up 2 percent year over year,
while the retail industry is expected to be up about 1 percent. It
was Chevrolet's best retail November performance since 2004.
The brand's strong year-over-year retail performance extended to
passenger cars, SUVs and pickups, which helped the brand outperform
the industry:
- Colorado deliveries were up 18
percent for its best November ever.
- The Tahoe and Suburban were up a combined 12 percent.
- Chevrolet passenger cars were up 1 percent, with the Corvette,
SS, Impala, Sonic and Spark all posting sharply higher sales.
Strong Economic and Sales Outlook
"More vehicles are sold in December than any other month and we
are very well positioned because we have momentum in so many
segments, but especially in crossovers," said Kurt McNeil, U.S. vice president of Sales
Operations. "When we close the books on 2017, GM will show very
healthy inventory levels, significantly lower daily rental sales
for the third year in row, and the best year in our history for
crossover deliveries by far."
"U.S. economic growth has stepped up and we expect the momentum
will carry over to 2018," added GM Chief Economist Mustafa Mohatarem. "Employment continues to grow
at a solid pace, wage growth will accelerate and consumer
confidence just hit a 17-year high, so industry sales should remain
strong."
Other November Highlights
- GM's ATPs were up more than $650
from October and more than $1,400
from a year ago.
- GM is on track to close 2017 with significantly fewer vehicles
in stock than it had in December
2016.
- GM's November incentive spending was an estimated 12.9 percent
of ATP, per JD Power PIN, which is in line with the industry
average. Spending was down 0.3 percentage points from October and
0.8 points year over year.
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
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.
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SOURCE General Motors