GM October 2017 Sales Down 2.2%, 252,813 Units Sold

[FenwickHockey65]

For the First Time Since 2011, GM’s Retail Market Share Tops 17 Percent for Three Consecutive Months
General Motors

November 1, 2017

DETROIT — General Motors (NYSE: GM) today reported 252,813 deliveries in the United States in October.

• Pickup deliveries totaled 84,902 units, up 9 percent year over year, led by the Chevrolet Silverado and GMC Sierra.
• Crossover deliveries totaled 82,235 units, up 12 percent year over year, driven by the highest October sales ever for five different models: the Chevrolet Equinox and Traverse, the GMC Acadia and the Buick Encore and Enclave.
• Combined Cadillac SRX and XT5 sales were up 17 percent.
• The Chevrolet Bolt EV and Buick Encore had their best months ever.
• Combined Commercial and Government deliveries were up 10 percent year over year, and 11 percent calendar year to date.

Selling-day adjusted sales were up 2 percent. Total sales were down 2 percent, reflecting lower passenger cars deliveries and one fewer selling day year over year.

Retail Share Momentum

Exceptionally strong crossover deliveries at Chevrolet, Buick and Cadillac helped the company achieve an estimated retail market share of 17 percent or more for the third consecutive month. The last time GM delivered three consecutive months at or above a 17 percent retail share was July-September 2011.

Three crossovers reported massive year-over-year retail sales increases for the month: the Chevrolet Traverse was up 59 percent, the Chevrolet Equinox was up 22 percent and the Buick Enclave was up 75 percent. The GMC Sierra pickup also posted a large 23 percent increase in retail sales.

“We are heading into the fourth quarter with good momentum, thanks to a strong U.S. economy and very strong pickup and crossover sales. In fact, Chevrolet and GMC have some of the fastest-turning crossovers in the industry,” said Kurt McNeil, U.S. vice president of Sales Operations. “The all-new Chevrolet Equinox is off to a great start and we could have sold even more if we had more available. We also see tremendous upside with the launches of the 2018 GMC Terrain, Chevrolet Traverse and Buick Enclave. They are arriving in showrooms at the same time consumer confidence is at its highest level since 2000. Small business optimism has also stayed very high since last fall, and that bodes well for pickup and van sales.”

Customer demand for trucks and crossovers, combined with incentive spending discipline, is driving strong average transaction prices (ATP) for GM vehicles. GM’s October ATPs, which are net of incentive spending, were more than $36,000, about $1,000 per unit higher than the third quarter average.

The GMC brand, which grew total and retail sales during the month, had its highest ATPs ever, driven by the success of Denali models, which reached 30 percent of retail sales.

Supplemental Data

• GM reduced month-end inventory from September and is on track to close 2017 with significantly fewer vehicles in stock than in December 2016.
• Daily rental sales in 2017 are expected to be down about 50,000 units year over year.
• GM’s October incentive spending as a percent of ATP was an estimated 13.5 percent, according to JD Power PIN estimates, down from the third quarter estimate of 13.7 percent. Spending is down about one percentage point from September.

[huggercamaro21]

Probably why they are doing employee pricing for most 2017 models this month.

[SS 1LE]

On a side note, the Camaro outsold the Mustang and Challenger.

[SS 1LE]

Originally Posted by huggercamaro21

Probably why they are doing employee pricing for most 2017 models this month.

How much off of msrp is that?

[FenwickHockey65]

The competition:

Ford Motor Company: Up 6.2%, 200,436 units sold
Toyota: Up 1.1%, 188,434 units sold
FCA: Down 13%, 153,373 units sold
Honda: Up 0.9% 127,353 units sold
Nissan: Up 8.4%, 123,012 units sold

[huggercamaro21]

Originally Posted by SS 1LE

How much off of msrp is that?

Its like 7% before any rebates.

[SS 1LE]

Originally Posted by huggercamaro21

Its like 7% before any rebates.

Oh, that's all employees get? Thought it would be more...

[FenwickHockey65]

It varies based on the car.

[huggercamaro21]

Yeah the more expensive, the more off. But on the camaros it is usually 7-10%. And then the rebates come off of that.