General Motors’ (NYSE: GM) Chevrolet, Buick, GMC and Cadillac brands sold 262,993 vehicles in the United States in October 2015, with Chevrolet posting its best October sales since 2004.GM’s total and retail deliveries – sales to individual customers – climbed 16 percent compared with a year ago, outpacing a very strong industry, and the company’s retail market share has now climbed for seven consecutive months versus 2014. Commercial deliveries in October were up year over year for the 24th consecutive monthly gain. Total fleet sales were up 16 percent.
“The redesign of our full-size trucks and SUVs, and our move into the small crossover and mid-size pickup segments were smart bets and our timing couldn’t be better with industry sales at record levels,” said Kurt McNeil, GM’s U.S. vice president of Sales Operations. “Customers are also embracing our Shop-Click-Drive online shopping program, where the price you see is the price you pay. We see more growth ahead because it’s simple and transparent.”
Chevrolet’s 18 percent increase reflects strong across-the-board sales. The brand’s crossovers were up 58 percent, the 11th consecutive monthly increase versus a year ago. Chevrolet trucks were up 13 percent, the 19th consecutive monthly increase, and Chevrolet cars were up 6 percent, the best October result since 2004.
The Chevrolet Silverado and Colorado had their best October sales since 2006, and the Malibu its best October since 1996. Trax deliveries reached 8,175 units and Traverse deliveries were up 16 percent.
GM’s strong results helped the seasonally adjusted annual selling rate (SAAR) for light vehicles reach an estimated 18.2 million units in October. The six-month moving average for the SAAR is now estimated to be 17.8 million units, on track to establish a calendar year record.
Sales Highlights vs. 2014 (except as noted)
Chevrolet
- Total sales were up 18 percent, retail sales were up 20 percent and the brand has had seven consecutive months of year-over-year retail sales and share gains.
- Malibu retail sales were up 19 percent, and total sales were the highest for any October since 1996.
- Equinox deliveries were up 25 percent in total for the vehicle’s best October ever. Sales were up 30 percent on a retail basis.
- Traverse was up 16 percent in total and 21 percent for its best-ever October retail sales month.
- Silverado deliveries were up 14 percent on a retail basis. Retail deliveries have grown year over year for 15 consecutive months.
- The Colorado, with 7,059 units sold, continues to be the industry’s fastest-selling pickup with a days-to-turn rate of 24 days.
- Consumer demand for Chevrolet’s full-size SUVs remains robust, with Tahoe up 17 percent and the Suburban up 25 percent on a retail basis.
GMC
- GMC, with an 18 percent increase, had its best October results since 2003.
- The Terrain was up 47 percent for its best October ever.
- The Yukon was up 18 percent, the Yukon XL was up 27 percent and Canyon deliveries totaled 2,415 units.
- Denali models accounted for more than one-quarter of all GMC sales, the highest ever.
Buick
- Buick retail deliveries were the best since 2003.
- Encore deliveries were up 39 percent for the small crossover’s 22nd consecutive year-over-year sales increase. Retail deliveries were up 60 percent.
- On a retail basis, Regal was up 49 percent.
Cadillac
- Deliveries were up 13 percent, driven by SRX, up 65 percent, and the Escalade, up 47 percent.
Average Transaction Prices (J.D. Power PIN estimates)
- GM’s average transaction prices (ATPs) were $34,600, down about $130 year over year. Calendar year to date, ATPs are up about $800.
- Incentive spending was 12.7 percent of ATP, up 0.9 percentage points from September 2015, reflecting PIN’s estimate of GM’s model-year-end incentive activity. Calendar year to date, spending is up 0.4 percentage points.
- GM’s incentive spending on full-size pickups declined both month over month and year over year by about $200 per unit.
Fleet and Commercial
- Fleet sales in the month were strong due to rental customer demand.
- Calendar year to date rental deliveries are down about 10 percent.
- Calendar year to date, commercial deliveries are up 14 percent and deliveries to state and local government customers are up 17 percent.