Chevrolet Posts Double-Digit Crossover and Truck Sales Increases in November
General Motors had plenty to be thankful for last month, even after November 26. Its four brands, Chevrolet, Buick, GMC and Cadillac, sold a total of 229,296 vehicles in the U.S., a 2-percent year-over-year increase. Its retail sales, in particular, went up 4 percent while incentive spending as a percentage of record-high average transaction prices declined.
Chevrolet was a major contributor to that success, especially its Silverado. Total sales of it (retail, fleet, and commercial) hit their highest November mark since November 2003. According to GM, “Retail sales of the Silverado were [up 4 percent and] the highest for any November since 2006, and have now increased for 16 consecutive months.”
The Suburban and Tahoe were popular in the retail market as well; Chevy moved 31 percent more of the former and 17 percent more of the latter in November. Bow tie truck sales in general shot up for the 20th consecutive month – and by 10 percent, too.
Crossovers were also big business for Chevrolet. Its sales of them increased 35 percent in November. Buick’s crossovers and Cadillac’s SRX were responsible for impressive gains themselves: 11 and 53 percent, respectively. GMC saw a 12-percent year-over-year boost in deliveries of its CUVs.
As a whole, Chevrolet grew its retail sales by 13 percent in November. The company, along with its three sibling manufacturers, helped drive GM’s retail market share up by 1 point to reach 16.5 percent.
Chime in with your thoughts on the forum. >>
PRESS RELEASE
Chevrolet Posts Industry’s Largest Sales Increase, Propels GM to its Eighth Consecutive Retail Share Gain
-Chevrolet truck sales rise for 20th consecutive month
-Chevrolet crossovers up for 12th consecutive month
-GMC sets average transaction price record fueled by Denali sales
-Commercial deliveries up for 25th consecutive month
-Note: Industry sales for calendar year 2000 were 17.8 million total vehicles and 17.4 million light vehicles.
DETROIT – General Motors’ (NYSE: GM) Chevrolet, Buick, GMC and Cadillac brands sold 229,296 vehicles in the United States in November 2015, up 2 percent year over year, with two fewer selling days and sales incentives below the industry average. On a selling-day-adjusted basis, GM’s total sales were up 10 percent.
Sales of Chevrolet trucks rose 10 percent for the 20th consecutive monthly increase. Chevrolet crossovers were up 35 percent for the 12th consecutive monthly increase.
Crossover deliveries were also robust at Buick, where Encore sales, up 12 percent year over year, have now increased for 23 consecutive months. Total Buick crossover sales were up 11 percent. At GMC, crossover deliveries rose 12 percent, driven by a 16 percent gain for the Terrain. Cadillac’s crossover, the SRX, saw a 53 percent increase. Industry-wide, crossovers now account for 40 percent of the retail industry, up from 37 percent a year ago.
“The phenomenal growth of crossovers in a record-setting market is the biggest sales story of 2015,” said Kurt McNeil, GM’s U.S. vice president of Sales Operations. “Buick was one of the pioneers of the fast-growing small crossover segment with the Encore. Chevrolet’s crossover sales growth is far outpacing the rest of the industry, thanks to the Trax, Equinox and Traverse. And the GMC Terrain is on track to have its best year ever.”
GM’s retail sales were up 4 percent year over year. Adjusted for selling days, GM retail sales were up 14 percent. GM gained an estimated 1.0 points of retail market share to reach 16.5 percent during the month for the company’s eighth consecutive year-over-year increase.
Deliveries to commercial customers were up 6 percent year over year and government deliveries were up 2 percent. Rental sales were down 16 percent per plan. Total fleet sales were down 9 percent.
The seasonally adjusted annual selling rate (SAAR) for light vehicles was an estimated 18.2 million units in November. The six-month moving average for the SAAR is now estimated to be 17.9 million units. The industry’s best sales year ever was 2000, when 17.8 million light vehicles were delivered.
“We believe U.S. auto sales will continue to grow in 2016, based on the underlying strength of the economy, and we expect customers will continue to embrace crossovers and SUVs because they are meeting their fundamental needs for utility, comfort and fuel efficiency,” said Mustafa Mohatarem, GM chief economist.
GM is also building significant momentum in the passenger car and pickup truck markets. At last month’s Los Angeles International Auto Show, the 2016 Chevrolet Colorado diesel was named Motor Trend Magazine’s Truck of the Year – a repeat victory for the truck. The 2016 Chevrolet Camaro was named Motor Trend’s Car of the Year, and the 2016 Chevrolet Volt was named Green Car of the Year by Green Car Journal. In addition, the all-new 2016 Chevrolet Malibu begins shipping to dealers today.
Sales Highlights vs. 2014 (except as noted)
Chevrolet
-Chevrolet’s retail deliveries were up 13 percent, the highest of any manufacturer in November.
-Retail sales have now increased for eight straight months. Retail crossover sales were up 26 percent, retail truck sales were up 12 percent and retail car sales were up 5 percent.
-The Traverse had its best November ever on a retail basis, and the Equinox had its best November on a total sales basis.
-Five Chevrolet passenger car lines posted retail sales increases: the Camaro was up 44 percent, the Volt was up 49 percent, the SS was up 40 percent, the Sonic was up 14 percent and the Malibu was up 9 percent.
-The Volt had its best November ever on both a total and retail basis.
-Retail sales of pickups and SUVs were also particularly strong: the Suburban was up 31 percent, the Tahoe was up 17 percent and the Silverado was up 4 percent.
-Retail sales of the Silverado were the highest for any November since 2006, and have now increased for 16 consecutive months. Total sales were the highest for any November since 2003.
GMC
-Total sales of the Yukon and Yukon XL were up 23 percent and 30 percent, respectively, while the Terrain was up 16 percent. Terrain had its best November ever.
-In addition, the Acadia was up 6 percent in total and on a retail basis. Acadia retail sales have already set a full-year record.
-GMC ATPs were a record $43,260, according to J.D. Power PIN estimates.
Buick
-Total sales of the Enclave crossover were up 9 percent, while the Encore small crossover was up 12 percent in total and 50 percent on a retail basis.
-The Encore is on track to set a full-year sales record.
Cadillac
-Total sales of the SRX crossover were up 53 percent.
-In November, Cadillac had the highest ATPs among full-line luxury brands at approximately $55,000, according to J.D. Power PIN estimates.
Average Transaction Prices (J.D. Power PIN estimates)
-GM’s average transaction prices (ATPs) were a record $35,800, up about $740 from October 2015 and up about $580 year over year.
-GM’s incentive spending was 10.0 percent of ATP, down 1.6 percentage points from October 2015 and down 1.2 percentage points year over year.
-Industry average spending was 10.5 percent of ATP in November, down 0.3 percentage points month over month and up 0.2 percentage points year over year.
Fleet and Commercial
-During the month, deliveries to commercial customers were up 6 percent and government deliveries were up 2 percent. Deliveries to rental customers declined 16 percent.
-Calendar year to date, commercial deliveries are up 13 percent and government deliveries are up 1 percent. Rental deliveries are down 11 percent.
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
via [GM]
