DETROIT, Oct. 3, 2017 /PRNewswire/ -- General Motors
(NYSE: GM) today reported a 12 percent year-over-year increase in
total sales in September to 279,397 units, driven by a 17 percent
increase at Chevrolet and an 9 percent increase at GMC.
- Crossover deliveries were up 43 percent, trucks were up 10
percent and passenger cars were down 11 percent.
- Retail deliveries, which accounted for about 80 percent of
sales, were up 8 percent for GM's best September retail performance
since 2007. GM's U.S. retail share is estimated to be up 0.6
percentage points.
- Commercial and Government deliveries were up 25 percent and 38
percent, respectively. GM has gained U.S. Commercial market share
for 14 consecutive months.
"Our new crossovers from Chevrolet, Buick, GMC and Cadillac have
been very well-received and Chevrolet had an outstanding month with
the Silverado and Colorado," said
Kurt McNeil, U.S. vice president of
Sales Operations. "We are entering the fourth quarter with strong
momentum, great products and a healthy economy."
GM Chief Economist Mustafa
Mohatarem said all the key U.S. economic indicators point
toward continued economic growth and stability. In addition,
regions devastated by the recent hurricanes will continue to
recover, helping spur new and used vehicle sales.
"The overall strength of the U.S. economy is the main force
driving the market," he said. "With the U.S. economy strengthening,
retail sales should remain strong for the foreseeable future."
September Retail Highlights (vs. September 2016 unless
noted)
Chevrolet
- Best September since 2004.
- Silverado was up 14 percent.
- Equinox and Traverse, Chevrolet's newest crossovers, were up 69
percent and 104 percent, respectively, the best September ever for
Equinox and the best month ever for Traverse.
- Bolt EV had its best month ever with 2,505 retail deliveries
and 2,632 total deliveries.
- Best month ever for Chevrolet electrified vehicles (Bolt EV and
Volt), with 3,929 retail deliveries.
- Trax was up 8 percent for its best September ever.
- Impala was up 7 percent.
Buick
- Enclave, Encore and Envision were up 41 percent, 12 percent and
44 percent, respectively.
- Encore had its best month ever.
- Highest ever SUV/crossover mix at 87 percent.
- LaCrosse ATP up 10 percent year to date.
- Buick maintained its retail focus with more than a 50 percent
reduction in fleet deliveries year to date.
GMC
- Terrain was up 66 percent for its best September ever.
- Overall Denali penetration was 33 percent, the highest monthly
rate ever.
- Denali penetration on Sierra reached 38 percent in
September.
- Year-to-date ATP is highest in GMC history at $43,210.
- Sierra had the highest ATP in its segment for 12th
straight month.
Cadillac
- XT5 was up 36 percent.
- Combined XT5 and SRX deliveries were up 12 percent year to
date.
- Year-to-date ATP was up $260 to
$53,748, higher than many German
luxury brands
Supplemental Data
- U.S. inventory levels are down about 160,000 vehicles in the
third quarter.
- The company's inventory target is unchanged, 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 September incentive
spending as a percent of ATP was 14.6 percent, which reflects
special programs that support disaster relief. Year to date, GM's
incentive spend is below its domestic and many Asian
competitors.
- Year to date, GM has the lowest daily rental mix of any
full-line automaker at 8.7 percent of total sales. GM remains
committed to decrease daily rental sales by 50,000 units in
2017.
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
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; (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.
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SOURCE General Motors