GM August 2015 Sales Down 0.7%, 270,480 Units Sold

[FenwickHockey65]

GM Posts the Industry’s Largest Retail Sales Increase on Double-digit Gains in Pickup and Crossover Sales
General Motors

September 1, 2015



Chevrolet crossovers up for ninth consecutive month – best August ever
Chevrolet truck sales up for 16th consecutive month
Double-digit sales increase for GMC pickups
Buick crossovers up 28 percent
Cadillac SRX up 52 percent
Commercial deliveries up for 22 consecutive months

DETROIT – General Motor’s (NYSE: GM) Chevrolet, Buick, GMC and Cadillac brands sold 270,480 vehicles in the United States in August 2015. Retail deliveries climbed 6 percent compared with a year ago, when results included the Labor Day holiday. GM had the industry’s largest retail sales increase and gained more than 1 percentage point of retail market share year over year, based on J.D. Power PIN estimates. Fleet sales were down 24 percent on a 38 percent decline in rental deliveries. Total sales were in line with a year ago.

GM continues to have the highest average transaction prices (ATPs) and had the lowest incentives as a percentage of ATP in the domestic industry, according to PIN.

“GM’s retail sales increase far outpaced the industry in August, and we have grown our retail share for five months in a row compared to last year,” said Kurt McNeil, GM’s U.S. vice president of Sales Operations. “We will continue this momentum with the redesigned Chevrolet Cruze and Malibu, the launch of diesel engines for our midsize pickups, a dramatic restyling of the Chevrolet Silverado and the aggressive rollout of Apple CarPlay and Android Auto.”

GM’s outperformance came in a very strong month for the industry. The estimated seasonally adjusted annual selling rate (SAAR) for light vehicles was 17.5 million units in August, the fourth month in a row above 17 million units – a streak unmatched since 2006.

“All of the economic fundamentals that we look at, including job growth, disposable income and fuel prices, are in good shape and that should keep sales strong,” McNeil said.

August Sales Highlights vs. 2014 (except as noted)

Total Sales
Chevrolet

• Crossover deliveries have increased year over year for nine consecutive months, with the highest August total and retail sales ever.
• The Equinox was up 18 percent and Trax deliveries totaled 5,985 units.
• Truck sales have increased for 16 consecutive months.
• Pickup deliveries were up 26 percent. The Silverado was up 12 percent and Colorado sales were 7,114 units. The Colorado remains America’s fastest-selling pickup with a “days to turn” of 19 days.
• Malibu sales were up 7 percent and Impala sales were up 1 percent.

GMC

• GMC had its best August sales since 2005.
• GMC pickup deliveries were up 21 percent, with the Sierra up 7 percent and Canyon deliveries totaling 2,423 units.
• The Sierra and Canyon have the highest ATPs in their respective segments, according to PIN. The Sierra has the highest ATPs of any pickup line in the industry.
• The Acadia had its best August ever, with sales up 10 percent.

Buick

• Encore deliveries were up 29 percent for the small crossover’s 20th consecutive year-over-year sales increase
• Sales of the Enclave were up 27 percent, for the vehicle’s best August ever.
• LaCrosse deliveries were up 1 percent.

Cadillac

• The SRX crossover was up 52 percent.

Fleet and Commercial

• GM continues to execute its plan to reduce sales to rental customers. Rental deliveries in August were down approximately 15,000 units, or 38 percent, and they are expected to be down again in September.
• Commercial deliveries were up 2 percent year over year, the 22nd consecutive monthly sales increase.
• Government sales were up 6 percent, with deliveries to state and local government agencies up 10 percent.
• Calendar year to date, commercial deliveries are up 16 percent, government sales are up 5 percent and rental deliveries are down 14 percent. Total fleet deliveries are down 5 percent.
• Pickup sales to fleets have increased year over year for 16 straight months due to strong demand from commercial and government agency customers.

Retail Sales
Chevrolet

• Chevrolet was up 8 percent and has had five consecutive months of year-over-year retail sales gains, including the brand’s best August sales since 2007.
• The Silverado was up 20 percent, and the truck had its best August retail sales since 2008.
• Tahoe deliveries were up 5 percent for its best August retail sales since 2008.
• Malibu deliveries were up 15 percent for its best retail sales month of the year.

GMC

• GMC has grown its retail sales for 19 consecutive months, and the brand delivered its best sales since 2003.
• The Terrain was up 10 pugust retail ercent and the Acadia was up 3 percent.
• The Sierra was up 6 percent.

Buick

• Encore deliveries were up 29 percent and Enclave was up 19 percent.

Cadillac

• SRX was up 36 percent.

Average Transaction Prices (PIN)

• GM’s August ATPs were $34,000, up more than $300 month over month and about $660 year over year.
• The ongoing success of the Chevrolet Silverado and GMC Sierra helped drive higher ATPs. Combined ATPs were up $680 month over month driven by lower incentive spending and improved mix. ATPs are about $1,400 year over year.
• Calendar year to date, GM’s incentive spending was 11.2 percent of ATP, up 0.4 percentage points, in line with the industry change.
• In August, GM incentive spending was 12 percent of ATP, down 0.8 percentage points from July 2015. The industry was up 0.2 percentage points.

[shaffe]

Cadillac would be really struggling without the SRX