03-01-2016, 01:18 PM | #1 |
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GM February 2016 Sales Down 1.5%, 227,825 Units Sold
Chevrolet Remains the Industry’s Fastest-Growing Full-Line Brand, with 11 Consecutive Months of Growth
General Motors March 1, 2016
DETROIT – General Motors (NYSE: GM) continued to grow its retail sales and market share in February, a trend that began April 2015. Since then, retail deliveries have been up every month compared to a year ago, and retail market share has been up in 10 of 12 months. February retail deliveries totaled 179,958 units, up 7 percent. GM’s estimated retail share is up 0.4 percentage points. The Chevrolet brand remained the industry’s fastest-growing full line brand in February, with retail deliveries climbing 13 percent compared to a year ago. Estimated retail share is up 1 percentage point on a year-over-year basis. In addition, Cadillac retail deliveries were up 4 percent. “Our strategy is simple: grow profitable retail share while maintaining discipline with inventory levels and incentive spending, while reducing rental deliveries,” said Kurt McNeil, GM’s U.S. vice president of sales operations. Due to a planned reduction in rental deliveries, GM’s total sales of 227,825 were down slightly year over year. GM reduced daily rental deliveries by about 16,500 units, or 39 percent in February. GM grew its Commercial business in February for the 28th consecutive month. GM expects to operate with about a 70-days supply of vehicles throughout the year in most months, with some months higher or lower. February month-end inventories were at a 67-days supply. GM continues to grow retail market share with incentives below domestic companies and other key competitors. As a result of lower rental deliveries, GM expects its fleet mix in 2016 to be about 20 percent of total sales, compared with a historical range of 22 to 24 percent. In 2015, GM reduced rental deliveries by about 50,000 units compared to 2014. In the first two months of 2016, rental deliveries are down about 30,000 units, compared to a year ago. “The redesign of our full-size pickups and SUVs, and the smart bets we made to enter the small crossover and mid-size pickup segments with vehicles like the Chevrolet Trax and Colorado couldn’t have been timed better,” McNeil said. “The economy is growing, Millennials are becoming a major force in the market and we’re doing everything we can to meet retail demand, including increased production of mid-size pickups and investing in additional V8 engine capacity.” Millennials (customers under age 34) now buy more new vehicles than any generation besides Baby Boomers, and they account for 20 percent of GM sales, up from 5 percent in 2010. GM’s products plans are tailored to these generational shifts. Redesigned vehicles launching in 2016, including Chevrolet Cruze, Volt, Camaro, Malibu and Trax. At the same time, Buick is expanding its portfolio with the Cascada convertible and Envision crossover, GMC is launching an all-new Acadia crossover, and Cadillac is launching the all-new CT6 prestige sedan and XT5 crossover. “We continue to be optimistic about the continued strength of the U.S. economy,” said Mustafa Mohatarem, GM’s chief economist. “Employment remains strong, interest rates remain at historically low levels and gas prices are stable, so we expect auto sales to remain strong for the foreseeable future.” February Retail Sales and Business Highlights vs. 2015 (except as noted) Chevrolet
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03-01-2016, 02:19 PM | #2 |
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ATS and CTS sales were also up, not by much but at least they were going the right way
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03-01-2016, 02:43 PM | #3 |
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Looks like the camaro is doing okay. Nice teaser headline. Way to suck us in. Lol
Edit: So, I'm over on the other forum reading the numbers on the gen6 car. I can't see where its up 39% anywhere as stated here. Please explain what I'm missing. Last edited by motorhead; 03-01-2016 at 03:03 PM. |
03-01-2016, 03:31 PM | #4 |
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I am guessing it is retail sales vs total sales.
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03-01-2016, 04:22 PM | #5 |
General Motors Aficionado
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It's up in retail sales, and I think that figure has corporate/government fleet sales included too. GM's been cutting rental fleet sales drastically so no surprise there. Overall sales aren't going to look very good but the financial report will be better.
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03-01-2016, 06:03 PM | #6 |
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Retail vs total
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Note, if I've gotten any facts wrong in the above, just ignore any points I made with them
__________________ Originally Posted by FbodFather My sister's dentist's brother's cousin's housekeeper's dog-breeder's nephew sells coffee filters to the company that provides coffee to General Motors...... ........and HE WOULD KNOW!!!!__________________ Camaro Fest sub-forum |
03-01-2016, 06:14 PM | #7 | |
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Quote:
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03-01-2016, 06:23 PM | #8 |
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39 percent increase over previous year, will take that
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03-11-2016, 11:38 AM | #9 |
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"Camaro sales so far this year are up 44 percent." According to this CNBC source I just read out on Yahoo:
http://www.cnbc.com/2016/03/10/chevy...he-camaro.html Ron
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