07-03-2018, 09:38 AM | #1 |
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GM Q2 2018 Sales Up 4.6%, 758,376 Units Sold
GM Gains Half a Point of Market Share as Chevrolet and GMC Second Quarter Deliveries Soar
General Motors July 3, 2018
DETROIT — Very strong truck sales and a wave of all-new crossovers helped General Motors Co. (NYSE: GM) deliver more than 758,000 vehicles in the United States in the second quarter of 2018. Second quarter sales at Chevrolet and GMC far outpaced the industry on a year-over-year basis, growing 6 percent and 7 percent, respectively, while industry sales are estimated to be up 1 to 2 percent. Cadillac sales were up 3 percent and GM’s overall sales were up 5 percent for an estimated market share of 16.6 percent, up 0.5 percentage points. “Customers are buying with confidence because the economy is strong and they expect it to remain strong,” said Kurt McNeil, U.S. vice president, Sales Operations. “GM is in a fantastic position with so many new crossovers at all four of our brands, the industry’s only three-truck pickup strategy and clear leadership in large SUVs.” Highlights
Strong U.S. Demand The U.S. light vehicle SAAR for the second quarter and first half are both expected to be about 17.2 million units. The outlook for the second half of the year also looks strong, according to GM Chief Economist Elaine Buckberg. “Tax reform raised take-home pay, consumer confidence is high and household balance sheets are healthy,” Buckberg said. “All of this plus a strong job market makes consumers more willing to commit to major purchases like vehicles.” Gross domestic product is expected to grow more than 4 percent in the second quarter, according to the Federal Reserve Bank of Atlanta, which would make it the strongest second quarter since 2014. In addition, the economy has seen 92 consecutive months of job creation through May, according to the U.S. Bureau of Labor Statistics. Cadillac Sets Stage for Growth Cadillac delivered record calendar year-to-date crossover deliveries, with the XT5 showing year-over-year sales growth in 14 of the last 15 months. To build on this momentum, Cadillac will launch the XT4, its next all-new crossover, this fall. After that, Cadillac will introduce a new model roughly once every six months through the end of 2021. GM has already begun installing new tooling and equipment at its Lansing Grand River Assembly plant to build the next generation of Cadillac luxury cars, part of a more than half-billion-dollar manufacturing investment in the United States over the last two years to grow the brand’s sales in North America. In addition, GM has confirmed that its Spring Hill Assembly plant will build another new Cadillac crossover. Chevrolet Traverse Momentum Chevrolet’s newest crossover, the 2018 Traverse, stands out as one of the most successful redesigns of any vehicle in the industry this year.
“The Chevrolet Trax, Equinox and Traverse all saw record sales in the first half of the year, which means the brand has three home runs in the industry’s three fastest-growing segments,” McNeil said. “Of the three, Traverse stands out because it has made huge inroads in such a large and hotly contested segment.” Chevrolet Bolt EV Production to Increase More Than 20 Percent U.S. and global demand for the Chevrolet Bolt EV has been very strong in 2018, with global sales estimated to be up more than 35 percent year over year in the second quarter and up more than 40 percent in the first half. In response, GM is increasing fourth quarter production by more than 20 percent compared to the average of the first three quarters. “Demand for the Chevrolet Bolt EV, especially in the United States, Canada and South Korea, has outstripped production,” McNeil said. “The extra production coming on line should be enough to help us keep growing global Bolt EV sales, rebuild our U.S. dealer inventory and bring us another step closer to our vision of a world with zero emissions.” Strong Commercial Sales Growth The Commercial segment has been a source of significant growth for GM. Since 2012, sales to these fleet customers have grown 42 percent, which is an average annual rate of 7 percent. Commercial deliveries in the second quarter of 2018 were up 4 percent year over year and up 14 percent in the first half, thanks in part to very strong mid-size and large pickup sales. “Commercial customers tell us they prefer to do business with a company that can satisfy all their vehicle needs, and sedans are an important part of the mix because they typically offer very good safety, comfort, fuel economy and a lower total cost of ownership than other vehicle choices,” said McNeil. “Some automakers are scaling back their car offerings at the same time we are investing in the Chevrolet Cruze and Malibu, and expanding our truck and crossover portfolio. We see a terrific opportunity to forge new and stronger customer relationships with such a broad portfolio.” Other GM Highlights
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07-03-2018, 11:09 AM | #2 |
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So am I reading this correctly that GM is now expanding fleet sales?
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07-03-2018, 11:22 AM | #3 |
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Looks like a huge comeback for Impala....lol....
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07-03-2018, 11:24 AM | #4 | |
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Quote:
Not really. Rental fleets put in large orders this quarter but overall GM still expects to control fleet sales. There's a couple of weird oddities. ATS/CTS are both up YTD.
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07-03-2018, 11:24 AM | #5 |
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If I am reading it right, they expanded it this quarter due to fleet customer demand/ timing of orders
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07-03-2018, 11:26 AM | #6 |
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Spark up 115%
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07-03-2018, 11:45 AM | #7 |
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With "Gas-Guzzler" trucks and SUVs at an all time high, I don't quite get their optimism and logic for the Bolt EV market....It looks like it is getting less demand, not more..."Demand has outstripped production"....???
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07-03-2018, 11:52 AM | #8 | |
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Quote:
It's completely sold out in overseas markets.
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07-03-2018, 12:08 PM | #9 |
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Where does Camaro fit in here?
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07-03-2018, 12:10 PM | #10 |
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07-03-2018, 12:12 PM | #11 |
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2017 Q2: 21,269
2018 Q2: 13,588 Down 36.1% 2017 Q1+Q2: 36,567 2018 Q1+Q2: 25,380 Down 30.6%
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07-03-2018, 12:41 PM | #12 |
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Sinking like a rock.........
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07-03-2018, 02:13 PM | #13 |
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In GM press release speak, is 'rental fleet' included within 'commercial fleet'? Or is it a 3rd category, along side government fleet?
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07-03-2018, 02:28 PM | #14 | |
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Quote:
They listed the 22% Q2 fleet mix including rental, but break out a 10% rental sales mix in their overall projection for the year.
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