Retail Sales Up Slightly for General Motors in May
General Motors delivered a total of 237,364 vehicles in May, down 1.3% from 2016. Retail sales were up 0.4% at 191,388 units delivered with Chevrolet, Buick, and Cadillac all posting year-over-year increases.
The biggest source of retail source for GM during the month was crossovers, which saw a 19% gain year-over-year. This growth was made possible by 17% growth for the Chevy Equinox, 18% growth for Chevy Trax, 2% growth for Chevy Traverse, 33% growth for the all-new GMC Acadia, 110% growth for the all-new Cadillac XT5, 12% growth for Buick Encore, and 3,256 deliveries for the new Buick Envision.
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“As we see the industry shift to more crossovers, we are extremely well positioned to take full advantage of this dynamic,” said Kurt McNeil, US vice president of Sales Operations. “We expect these launches will enable us to continue gaining retail share as we introduce more all-new compact and midsize crossovers than anyone else, including the all-new GMC Terrain, Chevrolet Traverse, Buick Enclave, and the Regal TourX.”
“US economic fundamentals remain strong with a retail SAAR of 14.2 million, equal to last year’s record pace. The US economy is operating at near full employment levels, wages are rising, interest rates and fuel prices remain low, and consumer confidence remains high,” said Mustafa Mohatarem, GM chief economist. “The decline in total sales is primarily due to the industry’s pull back from daily rental sales. Although total sales are running below our expectations, we anticipate retail vehicle sales will remain strong.”
Buick saw its retail sales increase 11.5% in May with 17,360 units sold. Cadillac’s retail sales were up 9.8% at 12,708 units delivered, and Chevrolet sales increased 0.3% at 126,451 units delivered. GMC sales fell 6.9% at 34,869 units.
Through May, GM’s retail sales are up 0.3% at 930,137 units delivered. Total sales are down 1% at 1,171,291 units, but GMC, Buick, and Cadillac are all up on the whole.
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