SHARE THIS ARTICLE

General Motors (NYSE: GM) today reported 245,387 deliveries in the United States in November, with large year-over-year increases in sales of Chevrolet, Cadillac, Buick and GMC crossovers to individual “retail” customers.

  • Chevrolet crossovers were up 16 percent, driven by a 59 percent increase for the Traverse, which had its best November retail and total sales ever. The Bolt EV had its best month yet.
  • The Cadillac XT5 was up 11 percent.
  • Buick crossovers were up 20 percent after Enclave deliveries more than doubled. Envision deliveries were up 2 percent.
  • Buick’s new Avenir premium sub-brand is off to a strong start. About 30 percent of 2018 Enclave deliveries are Avenir models.
  • GMC crossovers were up 11 percent, driven by a 4 percent increase for the Acadia and a 20 percent increase for the Terrain, which gained a full point of segment share month over month as availability grew.

Overall retail sales were essentially equal to last November. Commercial and government deliveries were up a combined 7 percent, driven by a 30 percent increase in full-size pickup sales and a 35 percent increase for the Chevrolet Tahoe PPV (Police Pursuit Vehicle). Total fleet sales were down 13 percent after a 24 percent reduction in daily rental deliveries. Total sales were down 3 percent.

Crossovers, strong SUV sales and a record November for GMC Denali sales helped the company’s average transaction prices (ATPs) surpass $37,000 for the first time ever. GM’s ATPs were about $4,500 above the industry average and nearly $2,000 higher than any domestic competitor.

Chevrolet Momentum

Retail sales for Chevrolet were up 2 percent year over year, while the retail industry is expected to be up about 1 percent. It was Chevrolet’s best retail November performance since 2004.

The brand’s strong year-over-year retail performance extended to passenger cars, SUVs and pickups, which helped the brand outperform the industry: 

  • Colorado deliveries were up 18 percent for its best November ever.
  • The Tahoe and Suburban were up a combined 12 percent.
  • Chevrolet passenger cars were up 1 percent, with the Corvette, SS, Impala, Sonic and Spark all posting sharply higher sales.  

Strong Economic and Sales Outlook

“More vehicles are sold in December than any other month and we are very well positioned because we have momentum in so many segments, but especially in crossovers,” said Kurt McNeil, U.S. vice president of Sales Operations. “When we close the books on 2017, GM will show very healthy inventory levels, significantly lower daily rental sales for the third year in row, and the best year in our history for crossover deliveries by far.”

“U.S. economic growth has stepped up and we expect the momentum will carry over to 2018,” added GM Chief Economist Mustafa Mohatarem. “Employment continues to grow at a solid pace, wage growth will accelerate and consumer confidence just hit a 17-year high, so industry sales should remain strong.”

Other November Highlights

  • GM’s ATPs were up more than $650 from October and more than $1,400 from a year ago.
  • GM is on track to close 2017 with significantly fewer vehicles in stock than it had in December 2016.
  • GM’s November incentive spending was an estimated 12.9 percent of ATP, per JD Power PIN, which is in line with the industry average. Spending was down 0.3 percentage points from October and 0.8 points year over year.
General Motors Co. (NYSE:GM) has leadership positions in the world's largest and fastest-growing automotive markets. GM, its subsidiaries and joint venture entities sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang, and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at http://www.gm.com





GM Paints A Pretty Picture After Sales Drop 2.9% In November

About the Author

Agent009

User Comments

Add your Comments

Images hosted in your AgentSpace can now be posted in the comments section using the following syntax (case matters): [img]IMAGE URL[/img]
Example: [img]http://agent001.myautospies.com/images/sample.jpg[/img]