GM February 2016 Sales Down 1.5%, 227,825 Units Sold

FenwickHockey65 · 03-01-2016, 01:18 PM

Chevrolet Remains the Industry’s Fastest-Growing Full-Line Brand, with 11 Consecutive Months of Growth
General Motors

March 1, 2016

Retail sales for GM and Chevrolet have increased year over year every month since April 2015
February retail sales up 13 percent for Chevrolet, estimated share up 1 percentage point
GM retail sales up 7 percent in February, estimated share up 0.4 percentage points
Cadillac retail sales up 4 percent in February
Buick total sales up 2 percent
GMC sets ATP record for February
Commercial deliveries up for 28th consecutive month

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

Chevrolet had its best February sales since 2007, with cars up 34 percent, crossovers up 5 percent and trucks up 3 percent.
Malibu was up 87 percent for the model’s best February since at least 1979.
Camaro, Cruze and Impala were up 39 percent, 27 percent and 14 percent, respectively. Volt was up 96 percent.
Suburban, Tahoe, Traverse and Trax were up 36 percent, 22 percent, 15 percent and 26 percent, respectively.
Suburban and Tahoe had their best February since 2008.

GMC

Yukon sales were up 12 percent.
GMC continues to earn the highest average transaction prices (ATPs) among its competitive set. February ATPs of $42,300 were a record for the month.
Denali trim penetration was the highest ever at 24 percent.

Buick

Encore and Enclave sales were up 26 percent and 6 percent, respectively. Encore achieved best ever February sales.
Buick’s total sales were up 2 percent.

Cadillac

Escalade and SRX sales were up 22 percent and 13 percent, respectively.

Average Transaction Prices/Incentives (J.D. Power PIN estimates)

ATPs, which reflect transaction prices after incentives, were approximately $34,200 in February, up about $680 from January and more than $3,600 above the industry average.
GM’s incentive spending as a percentage of ATP was 12.4 percent, which reflects lower year-over-year spending on trucks and higher spending on passenger cars being replaced with all-new designs. Industry average spending in February was 11.1 percent.

Fleet and Commercial

Commercial sales grew 7 percent year over year in February and for the calendar year to date, after growing 38 percent from 2013 to 2015.
Government sales were up 14 percent year over year in February, and 3 percent calendar year to date.

Industry Sales

GM estimates that the seasonally adjusted annual selling rate (SAAR) for light vehicles in February was 17.7 million units.

shaffe · 03-01-2016, 02:19 PM

ATS and CTS sales were also up, not by much but at least they were going the right way

motorhead · 03-01-2016, 02:43 PM

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.

shaffe · 03-01-2016, 03:31 PM

Quote:

Originally Posted by motorhead

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.

I am guessing it is retail sales vs total sales.

FenwickHockey65 · 03-01-2016, 04:22 PM

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.

*DGthe3* · 03-01-2016, 06:03 PM

Quote:

Originally Posted by motorhead

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.

Retail vs total

motorhead · 03-01-2016, 06:14 PM

Quote:

Originally Posted by FenwickHockey65

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.

Quote:

Originally Posted by DGthe3

Retail vs total

Thank you.

jshaf · 03-01-2016, 06:23 PM

39 percent increase over previous year, will take that

ron123 · 03-11-2016, 11:38 AM

"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

03-01-2016, 01:18 PM	#1
FenwickHockey65 General Motors Aficionado Drives: 2023 GMC Canyon, 2020 Colorado Join Date: Aug 2008 Location: Florida Posts: 37,371 View My Garage	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 Retail sales for GM and Chevrolet have increased year over year every month since April 2015 February retail sales up 13 percent for Chevrolet, estimated share up 1 percentage point GM retail sales up 7 percent in February, estimated share up 0.4 percentage points Cadillac retail sales up 4 percent in February Buick total sales up 2 percent GMC sets ATP record for February Commercial deliveries up for 28th consecutive month 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 Chevrolet had its best February sales since 2007, with cars up 34 percent, crossovers up 5 percent and trucks up 3 percent. Malibu was up 87 percent for the model’s best February since at least 1979. Camaro, Cruze and Impala were up 39 percent, 27 percent and 14 percent, respectively. Volt was up 96 percent. Suburban, Tahoe, Traverse and Trax were up 36 percent, 22 percent, 15 percent and 26 percent, respectively. Suburban and Tahoe had their best February since 2008. GMC Yukon sales were up 12 percent. GMC continues to earn the highest average transaction prices (ATPs) among its competitive set. February ATPs of $42,300 were a record for the month. Denali trim penetration was the highest ever at 24 percent. Buick Encore and Enclave sales were up 26 percent and 6 percent, respectively. Encore achieved best ever February sales. Buick’s total sales were up 2 percent. Cadillac Escalade and SRX sales were up 22 percent and 13 percent, respectively. Average Transaction Prices/Incentives (J.D. Power PIN estimates) ATPs, which reflect transaction prices after incentives, were approximately $34,200 in February, up about $680 from January and more than $3,600 above the industry average. GM’s incentive spending as a percentage of ATP was 12.4 percent, which reflects lower year-over-year spending on trucks and higher spending on passenger cars being replaced with all-new designs. Industry average spending in February was 11.1 percent. Fleet and Commercial Commercial sales grew 7 percent year over year in February and for the calendar year to date, after growing 38 percent from 2013 to 2015. Government sales were up 14 percent year over year in February, and 3 percent calendar year to date. Industry Sales GM estimates that the seasonally adjusted annual selling rate (SAAR) for light vehicles in February was 17.7 million units. __________________ 2023 GMC Canyon Elevation 2020 Chevrolet Colorado W/T Extended Cab (State-issued)

03-01-2016, 02:43 PM	#3
motorhead Drives: Love the one you're with Join Date: Sep 2009 Location: Downtown Charlie Brown Posts: 11,850	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, 04:22 PM	#5
FenwickHockey65 General Motors Aficionado Drives: 2023 GMC Canyon, 2020 Colorado Join Date: Aug 2008 Location: Florida Posts: 37,371 View My Garage	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. __________________ 2023 GMC Canyon Elevation 2020 Chevrolet Colorado W/T Extended Cab (State-issued)

03-01-2016, 06:23 PM	#8
jshaf Montani Semper Liberi Drives: 2011 Black 2SS/RS w/ IOM stripes Join Date: Feb 2010 Location: Masontown, WV Posts: 4,841	39 percent increase over previous year, will take that __________________ Stainless Works 1 7/8 Long Tude Headers, Stainless Works High Flow Cats, Stainless Works Retro Chambered Catback, Z/28 Air Intake, RDP Tuned, FR41 Chrome Rims, 1100W stereo, 35% Tint

03-11-2016, 11:38 AM	#9
ron123 Drives: 2014 2SS/RS Join Date: Dec 2014 Location: Raleigh, NC Posts: 1,053	"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 __________________ 2014 2SS/RS, Z28 CAI and High Wing Spoiler, ZL1 5.1:1 Ratio Short-Throw Shifter, ZL1 Pedals, ZL1 splash guards, NPP Dual-mode quad tip exhaust, Z28 strut tower brace, Camaro LED Cup-holders with footwell Lighting option, Leather visors, and Leather E-brake boot. Chevy dealer sponsored 67 retro SS nose stripe package.