General Motors Co. (NYSE: GM) today reported total sales of 209,306 vehicles in February, up 1.1 percent compared with the company’s very strong February 2011 results. “Chevrolet’s 6 percent sales increase, which was driven by new models, as well as a stronger economy, helped GM exceed last February’s remarkably strong result,” said Don Johnson, vice president, U.S. Sales Operations. “It’s an affirmation of our progress. We are continuing to execute the same disciplined sales strategy that was the key to our success in 2011.”
Industrywide, February light vehicle sales will top 1.1 million units, thanks to stronger employment and credit availability, an improving housing market and the recovery in consumer sentiment, he added.
“Commercial sales are a good barometer for the economy,” Johnson said. “GM’s commercial deliveries increased 35 percent in February, driven by strong sales of heavy-duty pickups.”
Year-over-year sales of the Chevrolet Silverado HD and GMC Sierra HD were up 28 percent and 20 percent, respectively. Other sales highlights for February include double-digit sales increases for the Buick LaCrosse, which features the 36-mpg eAssist powertrain as standard equipment, the Chevrolet Equinox and Camaro, and the GMC Terrain.
Chevrolet passenger car sales were up 13 percent. The all-new Chevrolet Sonic had its best month ever, with sales of 7,900 units. Chevrolet Cruze exceeded 20,000 units for the sixth time, marking its sixth-consecutive month of year-over-year sales gains. GM’s small and compact car portfolio, which now includes the Chevrolet Sonic, Cruze and Volt, and the new Buick Verano, were up a combined 43 percent versus February 2011.
GM’s year-over-year incentive spending, expressed as a percentage of average transaction prices, was down 3.5 percentage points to 9.5 percent in February, according to J.D. Power PIN estimates. Incentive spending was down about one-half point from January.