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GM Grows Total and Retail Sales in February, Market Share up Sharply, Transaction Prices Set February Record

DETROIT — Record sales of crossovers, large SUVs and pickups in February drove General Motors’ (NYSE: GM) retail market share up more than one-half percentage point versus a year ago. Average transaction prices, which reflect what customers pay after sales incentives, also set a February record.

“Our retail-focused go-to-market strategy is delivering robust results,” said Kurt McNeil, U.S. vice president, Sales Operations. “All of our brands grew their average transaction prices by healthy amounts, and we delivered solid growth in the industry’s fastest-growing and most profitable segments.”

February Highlights (vs. February 2016)

  • GM’s total sales were up 4 percent to 237,388 units compared with an estimated 1 percent decline for the industry. This equates to a market share of 17.5 percent, an increase of 0.9 percentage points.
  • Retail sales totaled 188,715 units, up 5 percent, compared with a flat industry. This equates to a market share of 17.7 percent, an increase of 0.7 percentage points.
  • GM’s average transaction prices (ATPs) rose $570 per unit to $34,900, a February record. Three years of J.D. Power PIN data show that GM has led the industry in ATPs in 35 of 36 months through February.
  • GM internal data shows that incentive spending was essentially flat year over year. This is in sharp contrast to recently published PIN estimates that noted an increase of 2.7 percentage points to 15 percent of ATP. 
  • Commercial deliveries were up 7 percent, driven by an 11 percent increase in pickup sales and a 75 percent increase in Chevrolet Malibu sales. It was the best February Commercial sales since 2008. Government sales were up 4 percent and daily rental deliveries were down 2 percent. Total fleet sales were up 2 percent.
  • Small business deliveries, which are included in retail sales, were up 13 percent, driven by a 22 percent increase in full-size pickups and a 39 percent increase in large vans.
  • GM estimates the seasonally adjusted annual selling rate (SAAR) for light vehicles was approximately 17.5 million units.

Brand Highlights (vs. February 2016)

  • Chevrolet had its best February retail sales since 2007 and its best February total sales since 2008. Crossovers deliveries set a February record for the brand.
  • Three Chevrolet models ― the Trax, Equinox and Volt ― had their best February total and retail sales ever. Traverse had its best-ever February total sales, and its best February retail sales since 2011.
  • Deliveries of the Chevrolet Bolt EV approached 1,000 units. The national rollout of the crossover is just underway.
  • The Chevrolet Suburban had its best February retail sales since 2008, and the Silverado had its best February total and retail sales since 2007.
  • Buick had its best February retail sales since 2004, driven by the all-new Envision and the Encore, which set a February record.
  • GMC had its best February retail sales since 2002, with trucks and crossovers up 18 percent and 15 percent, respectively. Standouts include the Canyon, up 21 percent; the Sierra, up 19 percent; the Acadia, up 22 percent; and the Terrain, up 8 percent.
  • GMC Denali penetration, at 26 percent of GMC retail sales, was the highest for any February in history.
  • GM estimates that Chevrolet and GMC earned more than 40 percent of all full-size pickup retail sales, with ATPs up nearly $600 per unit.
  • Cadillac XT5 retail deliveries were 6 percent higher than the SRX it replaced. Average transaction prices are 8 percent higher than SRX.

GM 2017 Outlook
GM is optimistic that the company, and Chevrolet in particular, will continue to gain retail market share in an industry expected to remain at or near record sales levels.

“Looking ahead, we will stay focused on strengthening our brands, growing retail sales and share, reducing daily rental deliveries and maintaining our operating discipline,” McNeil said. “Our strong small business deliveries are a clear sign of growing confidence in the economy.”

  • In 2016, GM was the industry’s fastest-growing full-line automaker on a retail sales basis, and Chevrolet has been the fastest-growing full-line brand for two consecutive years.
  • Ten all-new or recently redesigned crossovers are expected to drive GM’s sales and share higher in 2017, including the Chevrolet Equinox and GMC Terrain, which will compete in the industry’s largest segment.
  • GM’s deliveries to daily rental companies are expected to decline as a percentage of total sales for the third year in a row.
  • GM intends to match production with customer demand, and the company’s overall operating discipline should help drive continued improvements in brand health and resale values.
  • Year-end inventories, which include in-transit vehicles, are expected to be in the same range as 2016.

General Motors Feb 2017.jpg

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Look at that.. GM's all truck/SUV/CUV brand was up the most. Buick is hurting from the loss of the Verano, and aged Enclave, and a new changeover of the LaX. They really should have brought the Astra over or gave Buick a version of the Cruze Hatch. Wow on the Bolt and Volt. The Equinox, Terrain, Encore, XT5 and Trax continue to impress

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So long sedan sales.  I truly believe they could sell the CTS for the exact same price as an Equinox and the Equinox would outsell it 2 to 1.  Hell Lexus could sell the LS460 for $25,000 and the RAV4 would still outsell it.  People want crossovers. Sadly.

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Sad to see the continual decline of Cadillac sales in their home market. Even the CT6 is not selling well, and its the best looking of the sedans, along with being engineered quite well with the latest technology. I think Cadillac styling still needs to be bolder. It would be great if a few more variants of the existing models were offered, such as Wagon, Convertible or Coupe versions, rather than four Sedan models.

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The Continental is outselling the CT6.  Perhaps where Cadillac made an error was trying to out German the Germans.  Lincoln is catering to those that want plush car ride and hardly any other luxury brand is doing that now, Lexus is even moving away from it, and their sales are tanking too.    Cadillac advertising has been terrible even since they dropped Led Zeppelin also, and Lincoln seems to have some appeal going with Matthew McCaughnehy.

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CT6 isn't anymore 'German' than the S-class is 'Chinese' or 'American'.
Cadillac has been building technologically advanced, comfortable, well-performing sedans throughout most of their history- nothing new from that aspect.
No one in the market is advocating a return to a Deville from the '90s (softly-sprung & overstuffed), for example, so stop talking like anyone is. Your ship has sailed, and decades ago.

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57 minutes ago, balthazar said:

CT6 isn't anymore 'German' than the S-class is 'Chinese' or 'American'.
Cadillac has been building technologically advanced, comfortable, well-performing sedans throughout most of their history- nothing new from that aspect.
No one in the market is advocating a return to a Deville from the '90s (softly-sprung & overstuffed), for example, so stop talking like anyone is. Your ship has sailed, and decades ago.

ATS and CTS have been designed from the get go to mimick the 3-series and 5-series.  Both are tanking right now, 3-series sales have fallen off too.  Right now Lincoln is growing, and Cadillac is shrinking, and Lincoln a year or two ago was thought be be getting shut down.  Lincoln is bringing more crossovers, maybe killing MKZ and becoming a luxury truck brand, so they could have a future.  I still feel like Cadillac lacks focus, when the 3-series was hot they thought, let's copy it, when the Lexus RX was hot, they thought lets copy it.  Now MKC, NX, Q3 and these small utes pick up so Cadillac says let's do XT3.  But they are always a little late to the party rather than setting the trends.

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10 minutes ago, smk4565 said:

maybe killing MKZ and becoming a luxury truck brand, so they could have a future.

Is this a possible reality? Where'd you hear this from?

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36 minutes ago, ccap41 said:

Is this a possible reality? Where'd you hear this from?

Autoline reported that a day or two ago.  The MKZ is likely getting cancelled in 2019 when it's life cycle ends and the factory where it is built will be used to make crossovers.  Lincoln will be adding more crossovers to the line up instead.  Autoline did say that Lincoln might add another sedan to replace MKZ, which it would be hard to imagine the Continental as the only car at Lincoln.

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12 minutes ago, smk4565 said:

Autoline reported that a day or two ago.  The MKZ is likely getting cancelled in 2019 when it's life cycle ends and the factory where it is built will be used to make crossovers.  Lincoln will be adding more crossovers to the line up instead.  Autoline did say that Lincoln might add another sedan to replace MKZ, which it would be hard to imagine the Continental as the only car at Lincoln.

" MKZ " will be discontinued and replaced with an actual name.

Lincoln is not dropping the car. 

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9 minutes ago, FordCosworth said:

" MKZ " will be discontinued and replaced with an actual name.

Lincoln is not dropping the car. 

That's what I thought I read as well.

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1 hour ago, smk4565 said:

ATS and CTS have been designed from the get go to mimick the 3-series and 5-series.  ...when the 3-series was hot they thought, let's copy it, when the Lexus RX was hot, they thought lets copy it.

This is the root of your analysis problem: these aren't 'copies'; they are entries in a product segment. Most people call this 'competition', not 'copies', which implies direct demonstrable likenesses. Size and taut handling aren't sole properties of a single producer, they never have been.
I notice you never bother to 'admit' that mercedes 'copied' the 3-series in this manner either; when the close proximity of MB & BMW models come up, you like to group them under 'the Germans' as if they were co-developed by a single company.  For example: mercedes MUST be 'copying' BMW by returning to an old-school inline 6, after decades of V6s, right?

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Mercedes had a direct injection inline 6 in 1954.  BMW copied them.  Mercedes is going back to what they have done in the past.  With the ATS Cadillac was trying to get the same wheelbase, lengeth, width etc as the E90 3-series or whichever one people liked before the current car got big and added electric steering.

like with XT5 instead of saying how can we make it like the Lexus RX, they should be saying how can we make a smaller version of the Escalade and make it uniquely Cadillac.

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• Mercdes has been selling V6s for decades now- it's who they are. The 1950s is forever ago- another company; they weren't even building luxury products then. The "copying", as you should consistently define it, is the fact they're dumping all their V6 development to go with the ancient inline configuration, when basically only BMW has been building them (volvo don't count here).

• Please link us to where specifically Cadillac stated "how can we make it like the Lexus RX". I'll wait.
And it is uniquely Cadillac.

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Merecedes sold inline sixes up until like 1996.   Inline sixes are smoother than a V6 or V8, and they have better economies of scale with it because it shares 70% of the parts with the inline four.  So it makes engineering sense and economic sense.  They also don't need to hold on to V6 development, because they have something better.  

They went from 5.5 liter NA V8 to 4.7 liter turbo V8 to 4.0 liter turbo V8 on the S-class in a span of 2011-2018,  they have no problem introducing a new engine every 4 years if it gets them better power and fuel economy.  In that 8 year span the V8 gained 95 hp and 125 lb-ft while increasing fuel economy.  

They went from a 268 hp V6 in 2010 to 302 direct injection in 2012, to 329 hp turbo 3.0 V6 to 396 hp turbo V6 to 408 hp inline 6 for 2018.  140 hp gain in 8 years while increasing fuel economy.  Unlike Lexus that sold the same 306 hp V6 from 2007 to 2017 with no changes.

Cadillac dumped the rear drive SRX in favor of a front drive SRX sized almost identical to the Lexus RX.  They even copied 2/3rd of their name.  There should be a CTS-V engine in the XT5, laughable that Cadillac doesn't have a 500 hp crossover.  But they are like Lexus, lame front drive chassis that can't handle any power.

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That's still over 2 decades of the V6, after dumping all the development work on the I6. 
Now, apparently, MB is admitting they have a rough-running V6, so they dump the billion they spent there, and spend another billion to develop another, ancient I6 to address the problem.
Perhaps they can save money, since more & more MBs are going to go to 4 bangers in the near future...

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On 3/3/2017 at 10:46 AM, ccap41 said:

That's what I thought I read as well.

Wish Cadillac would follow suit, but they are changing to yet another stupid alpha-numeric naming scheme.  He Conti has grown on me (still hate the door handles) and I would probably take it over a CT6.  Art and Science is getting pretty long in tooth as well.  

 

Anyways, nothing special here.  As most brands, they are seeing spikes in truck/SUV/CUV sales. 

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