GM July 2017 Sales Down 15.4%, 226,107 Units Sold

FenwickHockey65 · 08-01-2017, 09:58 AM

Equinox, Acadia, Envision and XT5 Achieve Best July Ever
General Motors

August 1, 2017

Crossover and trucks account for 80 percent of sales for best monthly mix ever
July incentive spending as a percentage of ATP below industry average, driving ATPs up nearly $1,000
Commercial sales up 40 percent for best July since 2007
Lowest daily rental sales mix of any full-line automaker

DETROIT — General Motors (NYSE: GM) today reported July U.S. retail sales of 202,220 vehicles, down about 14 percent from strong sales in July 2016. In July, GM’s crossovers and trucks account for 80 percent of sales for the company’s best monthly mix ever.

While the U.S. market continues to moderate, sales of GM’s newest crossovers were strong in July:

Chevrolet Equinox - up 4 percent for its best July ever.
Chevrolet Bolt EV – 1,832 Bolts were sold in July for the best month ever. August will be the first month the Bolt EV is available on a national basis.
GMC Acadia - up 30 percent for its best July ever.
Buick Envision - up 89 percent for its best July ever.
Cadillac XT5 - up 6 percent for its best July ever.

GM’s July incentive spending as a percentage of average transaction prices (ATP) was 11.5 percent, more than 1 full percentage point below the industry average, and 0.5 percentage points below GM’s 2016 calendar year average. Some of GM’s competitors, without strong truck and crossover businesses, are offering significantly higher incentives across their entire portfolios, according to J.D. Power PIN estimates.

In addition, GM’s ATPs were about $36,000, up nearly $1,000 from July 2016.

“We have strategically decided to reduce car production rather than increase incentive spending or dump vehicles into daily rental fleets, like some of our competitors,” said Kurt McNeil, U.S. vice president of Sales Operations. “We are working hard to protect the residual values of our new products and growing quality retail and commercial sales, and July’s ATPs reflect that discipline.”

GM’s U.S. commercial vehicles sales were up 40 percent from last July, the best July since 2007, led by strong large van sales (up 89 percent), small utilities (up 61 percent) and large pickup sales (up 21 percent). Year to date, GM commercial sales are up 11 percent. U.S. daily rental sales were down more than 11,200 vehicles or 81 percent in July, as planned. In July, GM’s daily rental sales accounted for only 1 percent of GM’s total sales. GM continues to have the lowest U.S. rental mix of any full-line automaker at about 7 percent of total sales year to date.

GM’s July total sales were 226,107 vehicles, down about 15 percent from strong levels last year.

“Changing customer tastes have driven us to refocus our business on higher margin, faster growing segments, like the crossover segments. We are launching the most all-new crossovers in our history to take full advantage of the changes occurring in the U.S. marketplace,” added McNeil. “Our newest crossovers are performing very well in the marketplace and we’ll build on that momentum with the all-new Chevrolet Traverse, GMC Terrain, Buick Enclave and the introduction of the Regal TourX through the second half of 2017.”

By the end of 2017, GM will offer customers the U.S. industry’s newest and broadest lineup of crossovers.

“U.S. auto sales continue to moderate from last year’s record pace, but key U.S. economic fundamentals remain supportive of strong vehicle sales,” said Mustafa Mohatarem, GM chief economist. “Under the current economic conditions, we anticipate the second half of 2017 will be much stronger than the first half.”

July Brand Retail Highlights (vs. July 2016 unless noted)

Chevrolet

Colorado was up 22 percent.
Both Camaro and Cruze were up slightly.
Crossovers best year to date: Equinox, Traverse and Trax.
Volt has best year to date.
Volt and Bolt EV July sales combined for more than 3,300 deliveries.
Silverado LD double cab was up 4 percent.

Buick

Best year to date retail sales since 2005, up 2 percent.
July ATPs are highest since December 2015.
SUV mix is highest ever at 85 percent.

GMC

ATPs are the highest ever, up 8 percent from last July.
Sierra boasts the highest ATPs in the full-size pickup segment.
Sierra HDs up 6 percent in July and year to date up 9 percent, the best in a decade
Yukon up 4 percent.
Yukon had its best July since 2007.

Cadillac

CT6 up 7 percent.
Year to date, XT5 retail sales are up 10 percent vs. combined SRX and XT5 sales a year ago.
July ATPs up more than $3,000 and lead the luxury market and more than $3,000 higher than its closest competitor.

Guidance on U.S. Vehicle Inventory Levels

We anticipate we will end 2017 at or below last year’s level, with fewer cars and more trucks, crossovers and utilities in the mix.
Pickup, crossovers and utility sales, GM’s strength, are expected to be stronger in the second half of 2017 vs. the first half of the year.
We continue to monitor the marketplace and will make additional production adjustments if needed.

FenwickHockey65 · 08-01-2017, 10:03 AM

The competition:

Toyota: Up 3.6%, 222,057 units sold
Ford Motor Company: Down 7.5%, 200,212 units sold
FCA: Down 10%, 161,477 units sold
Honda: Down 1.2%, 150,980 units sold
Nissan: Down 3.2%, 128,295 units sold
Hyundai-Kia: Down 5.9%, 56,403 units sold
VW Group: Down 2.8%, 46,376 units sold
BMW: Down 13.7%, 26,473 units sold

90503 · 08-01-2017, 10:11 AM

Pretty big differences between the SUVs and the rest...Wow, the numbers are pretty significant....45K Silverados in one month...Caddy and Buick cars definitely need something to happen....

ChefBorOzzy · 08-01-2017, 10:27 AM

I think if ATS/CTS merge into a Q50 type offering, Cadillac sales will definitely go up.

*DGthe3* · 08-01-2017, 07:43 PM

Quote:

Originally Posted by 90503

Pretty big differences between the SUVs and the rest...Wow, the numbers are pretty significant....45K Silverados in one month...Caddy and Buick cars definitely need something to happen....

Cadillac and Buick cars need buyers to want cars instead of crossovers. At which point, Cadillac and Buick crossovers will start hurting.

Royal Tiger · 08-01-2017, 09:56 PM

Chevy still needs SOMETHING in the hot hatch type segment. Like the Focus RS, Golf R, and Civic Type R. Something to get people under 40 excited about Chevy. Camaro & Corvette speak to older buyers.

kingz · 08-01-2017, 10:08 PM

Quote:

Originally Posted by Royal Tiger

Chevy still needs SOMETHING in the hot hatch type segment. Like the Focus RS, Golf R, and Civic Type R. Something to get people under 40 excited about Chevy. Camaro & Corvette speak to older buyers.

40 ? Not really many young ppl love the camaro and Corvettes. Even the ones that have those hatch back cars . Heck , I'm not not even over 40 .

Royal Tiger · 08-01-2017, 10:10 PM

How many 20 somethings are buying a new Corvette?

I'm talking about market data, not what kids have posters of in their bedrooms.

08-01-2017, 09:58 AM	#1
FenwickHockey65 General Motors Aficionado Drives: 2023 GMC Canyon, 2023 Expedition Join Date: Aug 2008 Location: Florida Posts: 37,375 View My Garage	GM July 2017 Sales Down 15.4%, 226,107 Units Sold Equinox, Acadia, Envision and XT5 Achieve Best July Ever General Motors August 1, 2017 Crossover and trucks account for 80 percent of sales for best monthly mix ever July incentive spending as a percentage of ATP below industry average, driving ATPs up nearly $1,000 Commercial sales up 40 percent for best July since 2007 Lowest daily rental sales mix of any full-line automaker DETROIT — General Motors (NYSE: GM) today reported July U.S. retail sales of 202,220 vehicles, down about 14 percent from strong sales in July 2016. In July, GM’s crossovers and trucks account for 80 percent of sales for the company’s best monthly mix ever. While the U.S. market continues to moderate, sales of GM’s newest crossovers were strong in July: Chevrolet Equinox - up 4 percent for its best July ever. Chevrolet Bolt EV – 1,832 Bolts were sold in July for the best month ever. August will be the first month the Bolt EV is available on a national basis. GMC Acadia - up 30 percent for its best July ever. Buick Envision - up 89 percent for its best July ever. Cadillac XT5 - up 6 percent for its best July ever. GM’s July incentive spending as a percentage of average transaction prices (ATP) was 11.5 percent, more than 1 full percentage point below the industry average, and 0.5 percentage points below GM’s 2016 calendar year average. Some of GM’s competitors, without strong truck and crossover businesses, are offering significantly higher incentives across their entire portfolios, according to J.D. Power PIN estimates. In addition, GM’s ATPs were about $36,000, up nearly $1,000 from July 2016. “We have strategically decided to reduce car production rather than increase incentive spending or dump vehicles into daily rental fleets, like some of our competitors,” said Kurt McNeil, U.S. vice president of Sales Operations. “We are working hard to protect the residual values of our new products and growing quality retail and commercial sales, and July’s ATPs reflect that discipline.” GM’s U.S. commercial vehicles sales were up 40 percent from last July, the best July since 2007, led by strong large van sales (up 89 percent), small utilities (up 61 percent) and large pickup sales (up 21 percent). Year to date, GM commercial sales are up 11 percent. U.S. daily rental sales were down more than 11,200 vehicles or 81 percent in July, as planned. In July, GM’s daily rental sales accounted for only 1 percent of GM’s total sales. GM continues to have the lowest U.S. rental mix of any full-line automaker at about 7 percent of total sales year to date. GM’s July total sales were 226,107 vehicles, down about 15 percent from strong levels last year. “Changing customer tastes have driven us to refocus our business on higher margin, faster growing segments, like the crossover segments. We are launching the most all-new crossovers in our history to take full advantage of the changes occurring in the U.S. marketplace,” added McNeil. “Our newest crossovers are performing very well in the marketplace and we’ll build on that momentum with the all-new Chevrolet Traverse, GMC Terrain, Buick Enclave and the introduction of the Regal TourX through the second half of 2017.” By the end of 2017, GM will offer customers the U.S. industry’s newest and broadest lineup of crossovers. “U.S. auto sales continue to moderate from last year’s record pace, but key U.S. economic fundamentals remain supportive of strong vehicle sales,” said Mustafa Mohatarem, GM chief economist. “Under the current economic conditions, we anticipate the second half of 2017 will be much stronger than the first half.” July Brand Retail Highlights (vs. July 2016 unless noted) Chevrolet Colorado was up 22 percent. Both Camaro and Cruze were up slightly. Crossovers best year to date: Equinox, Traverse and Trax. Volt has best year to date. Volt and Bolt EV July sales combined for more than 3,300 deliveries. Silverado LD double cab was up 4 percent. Buick Best year to date retail sales since 2005, up 2 percent. July ATPs are highest since December 2015. SUV mix is highest ever at 85 percent. GMC ATPs are the highest ever, up 8 percent from last July. Sierra boasts the highest ATPs in the full-size pickup segment. Sierra HDs up 6 percent in July and year to date up 9 percent, the best in a decade Yukon up 4 percent. Yukon had its best July since 2007. Cadillac CT6 up 7 percent. Year to date, XT5 retail sales are up 10 percent vs. combined SRX and XT5 sales a year ago. July ATPs up more than $3,000 and lead the luxury market and more than $3,000 higher than its closest competitor. Guidance on U.S. Vehicle Inventory Levels We anticipate we will end 2017 at or below last year’s level, with fewer cars and more trucks, crossovers and utilities in the mix. Pickup, crossovers and utility sales, GM’s strength, are expected to be stronger in the second half of 2017 vs. the first half of the year. We continue to monitor the marketplace and will make additional production adjustments if needed. __________________ 2023 GMC Canyon Elevation 2023 Ford Expedition SSV (State-Issued)

08-01-2017, 10:03 AM	#2
FenwickHockey65 General Motors Aficionado Drives: 2023 GMC Canyon, 2023 Expedition Join Date: Aug 2008 Location: Florida Posts: 37,375 View My Garage	The competition: Toyota: Up 3.6%, 222,057 units sold Ford Motor Company: Down 7.5%, 200,212 units sold FCA: Down 10%, 161,477 units sold Honda: Down 1.2%, 150,980 units sold Nissan: Down 3.2%, 128,295 units sold Hyundai-Kia: Down 5.9%, 56,403 units sold VW Group: Down 2.8%, 46,376 units sold BMW: Down 13.7%, 26,473 units sold __________________ 2023 GMC Canyon Elevation 2023 Ford Expedition SSV (State-Issued) Last edited by FenwickHockey65; 08-01-2017 at 02:17 PM.

08-01-2017, 10:11 AM	#3
90503 Drives: 2011 2SS/RS LS3 Join Date: Nov 2011 Location: Torrance Posts: 14,564	Pretty big differences between the SUVs and the rest...Wow, the numbers are pretty significant....45K Silverados in one month...Caddy and Buick cars definitely need something to happen....

08-01-2017, 10:27 AM	#4
ChefBorOzzy Drives: 2016 F150 Join Date: May 2014 Location: Iowa Posts: 2,196	I think if ATS/CTS merge into a Q50 type offering, Cadillac sales will definitely go up.

08-01-2017, 09:56 PM	#6
Royal Tiger Account Suspended Drives: 2013 2SS/RS Convertible Join Date: Apr 2016 Location: Lehigh Valley, PA Posts: 3,873	Chevy still needs SOMETHING in the hot hatch type segment. Like the Focus RS, Golf R, and Civic Type R. Something to get people under 40 excited about Chevy. Camaro & Corvette speak to older buyers.

08-01-2017, 10:10 PM	#8
Royal Tiger Account Suspended Drives: 2013 2SS/RS Convertible Join Date: Apr 2016 Location: Lehigh Valley, PA Posts: 3,873	How many 20 somethings are buying a new Corvette? I'm talking about market data, not what kids have posters of in their bedrooms.