DETROIT, Dec. 1, 2016 /PRNewswire/ -- General Motors
(NYSE: GM) sold 197,609 vehicles in November to individual or
"retail" customers in the U.S., up 8 percent from last year. Based
on initial estimates, GM once again outperformed all full-line
manufacturers, led by strong retail sales gains at Chevrolet,
Buick, GMC and Cadillac. GM's
November retail sales performance drove GM's U.S. retail share to
its highest November level since 2009.
Based on initial estimates, GM's retail market share jumped 0.3
percentage points in November to 16.8 percent. GM has gained
retail market share in 17 of the past 20 months.
GM's four U.S. brands posted strong retail sales results in
November compared to last year.
- Chevrolet — up 5 percent for its best November since 2004
- Buick — up 22 percent for its
best November since 2003
- GMC — up 9 percent for its best November since 2001
- Cadillac — up 17 percent for its best November since 2013
GM's total U.S. sales in November were 252,644 vehicles, up more
than 10 percent from last year. All four brands outperformed
the industry in November with Buick, Cadillac and GMC posting double-digit
gains.
"GM's November performance reflects the continued strength of
our U.S. business. We gained profitable retail share,
commercial and small business deliveries were strong and we
commanded the industry's best average transaction prices," said
Kurt McNeil, GM's vice president of
U.S. Sales Operations. "We are ahead of plan selling down our 2016
model year inventory and we expect to close out December with more
retail share growth. GM is heading into 2017 in a position of
strength with the planned launch of key new products, like the
all-new Chevrolet Equinox, into the heart of the market."
GM's ATPs, which reflect retail transaction prices after sales
incentives, were $35,767 in November,
more than $4,000 above the industry
average and ahead of last November.
Through the first 11 months of the year, GM's U.S. retail sales
were up nearly 2 percent compared to last year. GM gained 0.5
percentage points of U.S. retail market share during that
timeframe, the largest retail share gain of any full-line
automaker. Year to date, Chevrolet U.S. retail sales are up nearly
3 percent and the brand's retail share has grown 0.5 percentage
points to 11.1 percent. Chevrolet continues to be the U.S.
industry's fastest-growing brand.
Year to date, Buick retail
deliveries have grown more than 5 percent and Buick has gained 0.1 percentage points of
retail share.
GM continues to benefit from a strong U.S. economy and strong
retail demand for its products.
"All economic indicators show significantly improved optimism
about the U.S. economy including consumer and business sentiment,
which continue to drive a very healthy U.S. auto industry," said
Mustafa Mohatarem, GM's chief economist. "We believe the U.S. auto
industry is well-positioned for sales to continue at or near record
levels into 2017."
November 2016 Retail Sales and
Business Highlights vs. November 2015
(except as noted)
Chevrolet
- Malibu and Volt were up 24 percent and 25 percent,
respectively.
- Silverado and Colorado were up
5 percent and 39 percent, respectively.
- Suburban, Tahoe, Equinox and Trax were up 6 percent, 12
percent, 7 percent and 47 percent, respectively.
- Malibu had its best November since 1997.
- Silverado had its best November since 2003.
- Colorado had its best November
since 2004.
- Trax, Volt and Equinox had their best November ever.
- Tahoe and Suburban had their best November since 2007.
- 17th straight month of year over year gains for
Chevrolet full-size utilities.
GMC
- Sierra and Canyon were up 14 percent and 43 percent,
respectively.
- Acadia, Yukon and Yukon XL
were up 4 percent, 22 percent and 19 percent, respectively.
- Brand ATP was at $43,887, the
highest November on record.
- Highest November ever for Denali penetration, at 27.8
percent.
- Best November ever for Canyon and ninth month of year over year
increases.
- Yukon and Yukon XL had their
best November since 2007.
Buick
- Regal and Encore were up 41 percent and 35 percent,
respectively.
- 68 percent of sales were crossovers.
- Best year to date retail performance since 2005.
Cadillac
- Escalade was up 24 percent and had its best month of the
year.
- Escalade had its best November since 2007.
- XT5 had its best month since launch with sales up 12 percent
over last month and up 27 percent over the SRX last November, the
vehicle it replaced.
- Year to date ATP was $53,690, the
highest ever in Cadillac history
Average Transaction Prices (ATP)/Incentives (based on JD
Power PIN estimates)
- GM's ATPs, which reflect retail transaction prices after sales
incentives, were $35,767 in November,
more than $4,000 above the industry
average.
- In November, GM's incentive spending as a percent of ATP was
13.7 percent, above the industry average of 12.4 percent. However,
year to date, GM's incentive spending was 11.7 percent, slightly
above the industry average of 11.4 percent and well below the
incentive spending of its domestic competitors and many of its
global competitors.
Fleet and Commercial
- Automotive Fleet magazine named Malibu "Fleet Car of the
Year".
- GM Fleet sales were up 19 percent versus last November.
- Fleet sales were 22 percent of GM's sales for the month.
- Commercial deliveries were up 11 percent for the month and it
was the best November Commercial sales since 2008.
- Malibu Commercial deliveries were up 170 percent versus last
November.
- Small Business deliveries were up 15 percent for the month
versus last November, driven by large vans, which were up 93
percent and large pickups, which were up 16 percent versus last
November.
- Federal government sales were up 9 percent versus last
November.
- Rental sales were up 27 percent versus last November but are
down 25 percent CYTD, according to plan.
- GM's outlook on its daily rental sales mix remains in the 11
percent range of total U.S. sales for 2016 and daily rental sales
for the year are expected to be down about 75,000 vehicles.
Industry Sales
- GM estimates that the seasonally adjusted annual selling rate
(SAAR) for light vehicles in November was approximately 17.9
million units. On a calendar year-to-date basis, GM estimates the
light-vehicle SAAR was 17.5 million units.
General Motors Co. (NYSE:GM, TSX: GMM) and its partners
produce vehicles in 30 countries, and the company 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, Opel, Vauxhall 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
Forward-Looking Statements
In this press release and
related comments by our management, we use words like "anticipate,"
"appears," "approximately," "believe," "continue," "could,"
"designed," "effect," "estimate," "evaluate," "expect," "forecast,"
"goal," "initiative," "intend," "may," "objective," "outlook,"
"plan," "potential," "priorities," "project," "pursue," "seek,"
"will," "should," "target," "when," "would," or the negative of any
of those words or similar expressions to identify forward-looking
statements that represent our current judgment about possible
future events. In making these statements we rely on assumptions
and analyses based on our experience and perception of historical
trends, current conditions and expected future developments as well
as other factors we consider appropriate under the circumstances.
We believe these judgments are reasonable, but these statements are
not guarantees of any events or financial results, and our actual
results may differ materially due to a variety of important
factors, both positive and negative. These factors, which may be
revised or supplemented in subsequent reports on Forms 10-Q and
8-K, include, among others: (1) our ability to maintain
profitability over the long-term, including our ability to fund and
introduce new and improved vehicle models that are able to attract
a sufficient number of consumers; (2) the success of our full-size
pick-up trucks and SUVs; (3) global automobile market sales volume,
which can be volatile; (4) the results of our joint ventures, which
we cannot operate solely for our benefit and over which we may have
limited control; (5) our ability to realize production efficiencies
and to achieve reductions in costs as we implement operating
effectiveness initiatives throughout our automotive operations; (6)
our ability to maintain quality control over our vehicles and avoid
material vehicle recalls and the cost and effect on our reputation
and products; (7) our ability to maintain adequate liquidity and
financing sources including as required to fund our new technology;
(8) our ability to realize successful vehicle applications of new
technology and our ability to deliver new products, services and
customer experiences in response to new participants in the
automotive industry; (9) volatility in the price of oil; (10) the
ability of our suppliers to deliver parts, systems and components
without disruption and at such times to allow us to meet production
schedules; (11) risks associated with our manufacturing facilities
around the world; (12) our ability to manage the distribution
channels for our products; (13) our ability to successfully
restructure our operations in various countries; (14) the continued
availability of wholesale and retail financing in markets in which
we operate to support the sale of our vehicles, which is dependent
on those entities' ability to obtain funding and their continued
willingness to provide financing; (15) changes in economic
conditions, commodity prices, housing prices, foreign currency
exchange rates or political stability in the markets in which we
operate; (16) significant changes in the competitive environment,
including the effect of competition and excess manufacturing
capacity in our markets, on our pricing policies or use of
incentives and the introduction of new and improved vehicle models
by our competitors; (17) significant changes in political,
regulatory and market conditions in the countries in which we
operate, particularly China, with
the effect of competition from new market entrants, and in the
United Kingdom with passage of a
referendum to discontinue membership in the European Union; (18)
changes in existing, or the adoption of new, laws, regulations,
policies or other activities of governments, agencies and similar
organizations, particularly laws, regulations and policies relating
to vehicle safety including recalls, and including such actions
that may affect the production, licensing, distribution or sale of
our products, the cost thereof or applicable tax rates; (19)
stricter or novel interpretations and consequent enforcement of
existing laws, regulations and policies; (20) costs and risks
associated with litigation and government investigations including
the potential imposition of damages, substantial fines, civil
lawsuits and criminal penalties, interruptions of business,
modification of business practices, equitable remedies and other
sanctions against us in connection with various legal proceedings
and investigations relating to our various recalls; (21) our
ability to comply with the terms of the DPA; (22) our ability to
manage risks related to security breaches and other disruptions to
our vehicles, information technology networks and systems; (23)
significant increases in our pension expense or projected pension
contributions resulting from changes in the value of plan assets,
the discount rate applied to value the pension liabilities or
mortality or other assumption changes; (24) our continued ability
to develop captive financing capability through GM Financial; and
(25) changes in accounting principles, or their application or
interpretation, and our ability to make estimates and the
assumptions underlying the estimates, which could have an effect on
earnings.
We caution readers not to place undue reliance on
forward-looking statements. We undertake no obligation to update
publicly or otherwise revise any forward-looking statements,
whether as a result of new information, future events or other
factors that affect the subject of these statements, except where
we are expressly required to do so by law.
GM's Investor Relations website
at http://www.gm.com/investors contains a significant amount
of information about GM, including financial and other information
for investors. GM encourages investors to visit our website, as
information is updated and new information is posted.
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SOURCE General Motors