GM Sales Growth Outpaces All Automakers in March
Buick and Chevrolet crossovers lead the way as GM sales continue their hot growth streak.
GM sales growth outpaced all other full-line automakers in March, fresh off closing 2016 as the industry’s fastest growing brand. The company also closed the first quarter of 2017 by gaining retail share. Overall, GM retail sales grew 5% in March, with market share increasing by 0.6 percentage points. They close out the quarter with a 1.9% increase in retail sales and a 0.2 percentage point increase in market share.
Moving forward, things appear to be just as bright, as Kurt McNeil, U.S. vice president of sales operations notes. “The economy is strong and we see more growth ahead for our brands,” McNeil said. “More people are working, consumer confidence is at a 16-year high, fuel prices are low and Chevrolet, Buick, GMC and Cadillac have a wave of new crossovers to compete in the industry’s biggest and hottest segments.”
The biggest drivers of this success were Chevrolet and Buick. Chevy posted their best March and first quarter retail sales results since 2007 and increased their market share by 0.4 percentage points. Buick was right on their heels with a 0.3 percentage point increase. With a 22 percent increase in retail sales, it was Buick’s best March result since 2005.
Both Chevy and Buick are reaping the benefits of fresh product and growing consumer demand for crossovers. Buick’s Encore, Envision, and Enclave are expected to account for 75% of retail deliveries in 2017, up from 66% in 2016. Chevy followed suit with impressive growth for its crossovers. Trax sales grew 51% in March, the Equinox grew 26%, and Traverse was up 24%.
With ten all-new or recently redesigned GM crossovers hitting dealerships, don’t expect this hot trend to cool off any time soon.
