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Saturday, 10 June 2017
USA SALES MAY - GM - The combined brands saw a slight increase in sales for May.
Commercial sales up 14 percent; Government sales up 21 percent
U.S. daily rental sales down 36 percent per plan
Crossover retail sales up 19 percent
General Motors (NYSE: GM) today reported May U.S. retail sales of 191,388 vehicles, up slightly from last year. GM’s May retail performance was driven by exceptionally strong crossover sales at Chevrolet, Buick, GMC and Cadillac.
GM’s U.S. Commercial sales in May were up 14 percent, while Government sales jumped 21 percent. Daily rental sales were down 36 percent, as planned. GM is on track to deliver its third consecutive year-over-year decline in daily rental volume.
GM’s May total sales were 237,364 vehicles, down about 1 percent from last year.
On a brand level, Buick’s U.S. retail sales in May were up 12 percent, while retail sales at Cadillac and Chevrolet were up 10 percent and less than 1 percent, respectively.
In May, GM crossovers were up 19 percent on a U.S. retail sales basis compared to last year. This strong performance was carried across all GM’s U.S. brands:
Chevrolet Equinox — up 17 percent
Chevrolet Trax — up 18 percent
Chevrolet Traverse – up 2 percent
Buick Encore — up 12 percent
Buick Envision — 3,256 deliveries in May, up significantly from last year’s launch
GMC Acadia — up 33 percent
Cadillac XT5 — up 110 percent
“As we see the industry shift to more crossovers, we are extremely well positioned to take full advantage of this dynamic,” said Kurt McNeil, U.S. vice president of Sales Operations. “We expect these launches will enable us to continue gaining retail share as we introduce more all-new compact and midsize crossovers than anyone else, including the all-new GMC Terrain, Chevrolet Traverse, Buick Enclave and the Regal TourX.”
Chevrolet dealers have begun selling the all-new Equinox with a highly efficient 1.5L engine. Additional powertrain offerings on the all-new Equinox will be available starting this summer. The all-new 2018 Traverse midsize crossover will arrive in Chevrolet dealer showrooms this summer as well.
GMC dealers will begin delivering the all-new Terrain compact crossover in late summer and Buick dealers will roll out the new Enclave midsize crossover in the fall.
Other May Sales Highlights (vs. 2016)
According to J.D Power PIN estimates, GM’s incentive spending as a percentage of average transaction prices (ATP) was 11.6 percent in May. That is equal to the industry average and lower than our 2016 calendar year average, and lower than any domestic and many Asian competitors.
GM’s incentive spending as a percent of ATP was down 0.8 points from April.
ATPs were $35,283, up more than $640 per vehicle from April.
Year-to-Date Highlights thru May (vs. 2016)
GM’s U.S. retail market share is up 0.2 percentage points, driven by Buick and Cadillac.
Buick’s U.S. retail sales are up 8 percent.
Cadillac U.S. retail sales are up 1 percent.
“U.S. economic fundamentals remain strong with a retail SAAR of 14.2 million, equal to last year’s record pace. The U.S. economy is operating at near full employment levels, wages are rising, interest rates and fuel prices remain low and consumer confidence remains high.
The decline in total sales is primarily due to the industry’s pull back from daily rental sales. Although total sales are running below our expectations, we anticipate retail vehicle sales will remain strong,” said Mustafa Mohatarem, GM chief economist.
May Brand Retail Highlights (vs. 2016)
Malibu and Camaro were up 40 percent and 6 percent, respectively.
Malibu had its best month since October 1980.
Equinox, Traverse and Trax were up 17 percent, 2 percent and 18 percent, respectively.
Chevrolet had its best year to date performance for crossovers ever.
Chevrolet dealers sold 1,438 Bolt EVs to retail customers, the best month ever for the game-changing EV.
Encore was up 12 percent and had its best May ever.
Envision celebrates one year in the marketplace and was Buick’s second best-selling nameplate.
Lacrosse was up 1 percent.
GMC reached a record for May ATPs at $44,675, up $1,667 over last May.
Acadia was up 33 percent.
CT6 was up 44 percent.
Escalade was up 21 percent.
XT5 was up 110 percent.
XT5 ATP is up over $3,000 from its predecessor.
Guidance on U.S. Vehicle Inventory Levels
We remain on track to achieve our year-end guidance. We anticipate we will end 2017 with approximately the same day supply of vehicles as we did at the end of 2016 with fewer cars and more trucks and crossovers in the mix this year.
Launch-related downtime in the second half will cut nearly 100,000 units from inventory.
We will continue to monitor the marketplace and will make additional production adjustments if needed.