02-03-2014, 09:11 AM | #1 |
General Motors Aficionado
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GM January 2014 Sales Down 12%, 171,486 Units Sold
GM’s U.S. Dealers Delivered 171,486 Vehicles in January
General Motors February 3, 2014 Best January Ever for the Chevrolet Cruze and Cadillac SRX Retail sales of Chevrolet cars up 8 percent DETROIT – General Motors Co. (NYSE: GM) dealers delivered 171,486 vehicles in the United States in January 2014. Retail sales were down 10 percent year over year, although retail deliveries of passenger cars were up slightly. Fleet deliveries declined 18 percent, due to a planned reduction in rental vehicle sales. Total sales were down 12 percent. “We are building long-term value for our customers and it starts with award-winning new products,” said Kurt McNeil, U.S. vice president of Sales Operations. “We have major launches underway and we are going to accelerate brand-building and other growth initiatives, which include executing our winning strategy to sell more pickup trucks with larger cabs, more features and advanced technology.” Half of GM’s light-duty pickup sales in the fourth quarter of 2013 were premium-contented models that transacted at prices of $40,000 or more. That compares with about one-third of sales in the 2013 calendar year and 20 percent in 2012. The mix continued to improve in January. Key enablers, depending on the model, include superior fuel economy, quieter cabins, higher towing and payload ratings, and better resale value. For example, the 2014 Chevrolet Silverado 1500 earned a “Best Resale Value” award from Kelley Blue Book as one of the Top 10 models in the industry. Image-building initiatives include prominent advertising during the Super Bowl, the Winter Olympics and the NCAA March Madness/Final Four basketball tournament. In addition, the Chevrolet Silverado “Hand’s-On” Truck tour will visit more than 100 locations this year, with 21 events scheduled for the first quarter. January Sales Highlights (vs. 2013)
2014 Industry Outlook Historically, January is the industry’s lowest sales month of the year. Extreme winter weather in the South, Midwest and Northeast this January further depressed GM and industry sales. The seasonally adjusted annual selling rate (SAAR) for light vehicles is expected to be an estimated 15.3 million units, down from 15.6 million in December. GM expects light vehicle sales for the year to be in a range of 16 million to 16.5 million units, which would be the industry’s best year since 2007, when 16.2 million vehicles were sold. GM expects to earn modestly higher market share in this environment. GM also expects to grow its commercial fleet business in 2014 thanks to the ongoing launches of the all-new Silverado and GMC Sierra heavy-duty pickups, and the fall launches of the Chevrolet City Express small van, and the Chevrolet Colorado and GMC Canyon midsize pickups. GM expects flat deliveries to rental companies compared with 2013.
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02-03-2014, 02:09 PM | #2 |
Drives: 2010 IBM 1SS (Former) Join Date: Feb 2009
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Not too surprising, though the decline seems pretty severe. The awful weather is partly to blame (didn't affect Fiat/Chrysler though) but it looks like the main concern is the decline in pickup sales. Is GM's strategy to sell relatively fewer pickups but at a higher price?
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02-03-2014, 06:54 PM | #3 |
Drives: V8 permagrin Join Date: Jul 2008
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It's also surprising to me the lack of incentives. The Cruze incentives dropped in Jan. I figured with the slow end to the year Jan would be a great time to buy.
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