General Motors Retail Sales Up 2.5% in October
General Motors sold 208,290 vehicles at retail in October, up 2.5% year-over-year. Retail market share increased 1.6 percentage points to 18.1%, marking a seven-year high for the month of October and the largest increase for any auto manufacturer in the month.
Overall sales were down 1.7% at 258,626 vehicles delivered, and GM notes that daily rental sales declined 8,000 vehicles (19%) year-over-year, in line with its ongoing effort to diminish daily rentals.
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“GM’s October performance reflects the strength of our retail business and our operating discipline. We gained profitable retail share in October while spending less than the industry average on incentives and commanding the industry’s best average transaction prices for any full-line automaker,” said Kurt McNeil, GM’s vice president of U.S. sales operations. “We will continue our disciplined approach and focus on retail in a strong industry.”
General Motors’ retail increases were made possible by strong months from Chevrolet and Buick in particular. Chevy’s retail sales leapt 5.8% with 141,641 vehicles delivered, and Buick sales increased 6.6% year-over-year at 17,366 units. Chevy gained 1.4 percentage points of retail market share, increasing its share in October to 12.3% and maintaining its status as the fastest-growing full-line brand in the industry. Buick’s market share increased 0.2 percentage points.
Average transaction prices were also considerable in October. GM’s retail ATPs were $36,155, nearly $5,000 better than the industry average. GMC’s ATP was an all-time October best at $43,988, thanks in large part to 25% Denali penetration.
After 10 months, GM’s retail sales are up 1% at 1,998,990 units.
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