GM Q3 2020 Sales Down 9.9%; 665,192 Units Sold

[FenwickHockey65]

GM Q3 Retail Share Climbs Despite Tight Inventory
General Motors

October 1, 2020

• Strengthening retail sales driving industry recovery
• All-new crossover and SUV deliveries continue to gain sales momentum
• Large pickups showing strength with heavy-duty year-over-year growth

DETROIT — General Motors (NYSE: GM) announced today that it delivered 665,192 vehicles in the third quarter of 2020, a decrease in total vehicle sales of about 10 percent compared to a year ago. In a sign of a recovering industry, sales improved sequentially each month within the quarter. Industry and GM sales rebounded significantly in September, finishing the month with year-over-year sales increases. Total industry SAAR1 was an estimated 15.9 million vehicles for the quarter, up about 4 million units from the previous quarter.

“Our dealers are doing exceptionally well utilizing a combination of customer-facing online technologies – such as Shop. Click. Drive. – and showroom sales to deliver vehicles safely to our customers. This is contributing to retail share gains while we continue to refill the pipeline,” said Kurt McNeil, GM vice president, U.S. Sales Operations. “Industry-wide, dealers are selling a high mix of large pickups as the summer comes to an end. Our strong large pickup and all-new full-size SUV lineups from Chevrolet and GMC are selling extremely fast.”

GM SUVs, Trucks and Luxury Segments Drive Quarterly Sales Results

GM’s mid-size SUVs outperformed the industry, including the Chevrolet Blazer up 45 percent – its best quarter ever – and the Cadillac XT6, also up 45 percent compared to the third quarter of last year. Buick’s compact SUV, the Envision, was up 44 percent. In addition to Cadillac having a full lineup of crossovers available, the CT4 and CT5 sedans continue to grow share in crowded segments, with CT4’s average transaction price outperforming its segment average, according to J.D. Power.

The company’s all-new crossovers – the Chevrolet Trailblazer and Buick Encore GX – continue to gain momentum. Compared to the second quarter of this year, Trailblazer sales increased 54 percent and Encore GX sales increased 73 percent. The two vehicles captured a combined 11 percent of retail market share in the third quarter for the small SUV segment, according to J.D. Power.

Despite tight inventory, GM’s large pickup trucks sold well, especially heavy-duty pickups; the Chevrolet Silverado HD was up 9 percent and GMC Sierra HD was up 11 percent compared to a year ago. Total Sierra sales posted its best third quarter ever. Year to date, GM’s combined light- and heavy-duty pickups gained 1.6 percentage points in retail market share to capture 37.5 percent of the segment, according to J.D. Power.

GM remains focused on producing the right mix of vehicles to meet demand. Large pickup and full-size SUV plants are all operating on three shifts and at maximum overtime. Robust, multi-layered COVID-19 safety protocols have been implemented across all of GM’s facilities to help keep employees safe and restore production to pre-pandemic levels.

Third-Quarter Economic and Industry Update

“While the economy has made a substantial rebound in the third quarter, retail auto sales have been even more resilient,” said GM Chief Economist Elaine Buckberg. “Super low auto loan interest rates have boosted retail auto sales; yet more strength comes from pandemic-induced demand.”

Pandemic-induced auto demand drivers include:

• Consumers see private vehicles as a safe space for both local and long-distance trips, as indicated by surveys from McKinsey & Company and Ipsos;
• Some households that are confident in their finances are likely using savings from foregone vacations, entertainment and restaurant meals toward a new vehicle;
• City residents have increased interest in owning a vehicle as some seek to move to the suburbs and others want to escape the city on weekends;
• The sharp rebound in housing permits is a positive signal for overall auto demand; and
• Higher home construction activity and strong demand for boats and RVs are particularly favorable for heavy-duty pickups.

Dealers also reported robust demand for large SUVs. Customers seeking these vehicles for family transportation or hauling capabilities have a lineup of all-new vehicles to choose from, including the 2021 Chevrolet Suburban and Tahoe, GMC Yukon and Yukon XL, and Cadillac Escalade, which began shipping to dealers this week.

GM Financial Driving Enhanced Customer Experience, Loyalty and Sales as it Celebrates 10 Years as GM’s Captive Finance Arm

GM’s growing captive finance company has become an integral and strategic business unit since it was acquired in 2010 and renamed GM Financial, supporting both customers and dealers across economic cycles. GM Financial generated nearly 2 million leads over the last 12 months, helping drive more than 400,000 vehicle sales, 73 percent of which were financed by GM Financial.

• GM Financial’s penetration of total U.S. GM retail sales was 53 percent in the second quarter, driven by strong dealer engagement with the captive finance company.
• Volume for GM Financial’s online credit application was up 27 percent year-over-year (first half of 2020 compared to the same period last year), with more customers shopping online in response to COVID-19.
• For the fourth consecutive year, GM Financial was ranked first in finance captive loyalty, with loyalty rates among current lease and loan customers at 78 percent and 68 percent, respectively, based on CY 2019 IHS Markit Return to Market Manufacturer Loyalty data.

[FenwickHockey65]

Q3 2020 Sales


Toyota: Down 11%; 558,449 units sold
Ford Motor Company: Down 4.9%; 551,796 units sold
FCA: Down 10.4%; 507,351 units sold
Honda: Down 9.5%; 388,433 units sold
Hyundai-Kia: Up 0.9%; 339,586 units sold
Nissan: Down 30.1%; 246,007 units sold
VW Group: Down 9.6%; 150,612 units sold
BMW: Down 15.8%; 78,904 units sold
Tesla: Down 45%; 17,000 units sold (estimated)

[rocket403]

Challenger Sales Down 18% to 38350 3rd Q vs
Camaro Sales -31% to 22226 3rd Q
Ford No info yet

[snizzle]

Originally Posted by rocket403

Challenger Sales Down 18% to 38350 3rd Q vs
Camaro Sales -31% to 22226 3rd Q
Ford No info yet

Wow. Things aren't looking good for a 7th gen if GM is looking to the car buying public for reasons to keep the nameplate around. They gave us an emergency refresh of the front end. They gave us a cheaper V8 entry point.

I think at best we get an extension of the 6th gen until 2025 when we see VSS-R.

At worst, it's gone again.... or an EV, which is basically the same thing to me.

[Avenging Orange]

People give me crap because I say automakers need to advertise. You need to generate excitement about your brand. I give credit to Dodge...plenty of tire smoking commercials for their stuff. Nissan, Toyota, even Honda are making their brand look good. When was the last time you saw a commercial for the Corvette? Camaro?
And if you see a commercial, it's for an SUV. And deals on only select models.
Locally, Bill Estes Ford, 20% off ALL F150 & F250's.
If you want to sell them, you need to SELL them.

[FenwickHockey65]

Originally Posted by Avenging Orange

When was the last time you saw a commercial for the Corvette?

I mean granted it was featured in an ad with other Chevrolet products but today.

[Bhobbs]

Originally Posted by snizzle

Wow. Things aren't looking good for a 7th gen if GM is looking to the car buying public for reasons to keep the nameplate around. They gave us an emergency refresh of the front end. They gave us a cheaper V8 entry point.

I think at best we get an extension of the 6th gen until 2025 when we see VSS-R.

At worst, it's gone again.... or an EV, which is basically the same thing to me.

GM does nothing to help the Camaro. The emergency refresh was basically to trade the black center section for body color.

No new models.
No performance increase.
No more power.

GM put in as little as possible and it shows.

[snizzle]

Originally Posted by Bhobbs

GM does nothing to help the Camaro. The emergency refresh was basically to trade the black center section for body color.

No new models.
No performance increase.
No more power.

GM put in as little as possible and it shows.

It was slightly more than that. They moved the bowtie to the grill which is what most folks thought was offensive on the front end from a styling standpoint.

The LT1 is a new model. It's a cheap entry point V8 below the 1SS. 3K-ish less.

For the most part though, I agree. The cherry and melon ball editions aren't going to do it. I'd love to see the Camaro shredding tires tugging heartstrings on TV.

[xc_SS/RS]

Last time I saw a real Camaro ad on TV was while rewatching the 2011 or 2012 Sebring 12 Hours recently. It’s a shame they don’t advertise for it more

Edit: it was for the 5th gen Convertible. No tire smoke, only driving along what looked to be the PCH. The Corvette Anniversary model that’s also advertised during the race is much more exciting doing laps around VIR.

[PYROLYSIS]

Originally Posted by Bhobbs

GM does nothing to help the Camaro. The emergency refresh was basically to trade the black center section for body color.

No new models.
No performance increase.
No more power.

GM put in as little as possible and it shows.

The death nail was the ugly 2019 refresh in my opinion. All the other stuff can be forgiven but an ugly car will not sell. No excuse for getting outsold by a car that it's generation started in 2008.

[rocket403]

With the Pandemic all 3 have lost sales

https://gmauthority.com/blog/2020/10...arter-q3-2020/

[AZCamaroFan]

to some extent i defend them not running Camaro ads, at least standalone ones. Ford doesn't really do it for the mustang.

however Chevrolet is now running tv ads with the Corvette, and that's one of the lower volume cars they have and doesn't really need advertising.

[2013ZL1FUN]

If GM could build cars of quality, that would be all the advertising they would need, word of mouth by existing happy clients. But no they can't do that. They build cars with hoods that pop open (Corvette), and generally don't hold up over time. My 5th generation will be the last GM I will buy. Too bad leadership and corporate greed has ruled the day for that company, management bonuses instead of taking care of business, and reaping rewards over time, for being a maker of quality, not just lifestyle fluff. Advertising exaggerated claims instead of quality built in.

[ABM2SS]

generally don't hold up over time.

Really? 237,000 miles and counting with very few mechanical issues. The only bad design issue I had to deal with was the damn plastic bushing in the clutch slave cylinder.