Chevy Sales Slide as the Brand Focuses on Increasing Profits Per Vehicle During the Third Quarter of 2018
Chevy's sales were down by 11.4 percent during the third quarter of the year, with quite a few sales surprises thrown into the mix
At the end of the second quarter of 2018, Chevrolet’s sales were up by 6.2 percent, an optimistic sign for the brand. Yet, by the end of the third quarter, that sales trend had reversed for Chevy.
Indeed, Chevrolet’s third-quarter sales were down by 11.4 percent.
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During the past three months, Chevrolet has sold 485,019 vehicles. During the third quarter of 2017, Chevy sold a total of 547,310 vehicles. Some of this sales decline could possibly be attributed to Hurricane Florence’s effect on the market last month.
Rather than focusing solely on increasing sales year-over-year, Chevrolet is actively looking to make each transaction more profitable. That strategy seems to be working out, as average transaction prices rose by $700 per unit year-over-year.
Surprisingly, Chevy’s small sedans did rather well during this sales period. Sales for the Sonic were up by 19.6 percent, while Spark sales were up by 51.9 percent, with a total of 7,029 units sold.
The Spark’s sales success is evident in its year-to-date performance. Chevy Spark sales are up by 33.2 percent so far this year.
Yet, even as the Sonic and Spark found success, their larger sedan cousins continued to face dwindling sales. Cruze Sales were down by 27.4 percent year-over-year, while Malibu sales sunk by 45.8 percent.
The year-to-date sales performance for these two sedans isn’t much better. Malibu sales are down by 23.9 percent, and Cruze sales are down 26.5 percent.
On the other end of the segment spectrum, some of Chevy’s large SUVs saw sales increases during the third quarter. Suburban sales were up by 10.8 percent, while Tahoe sales increased 20.1 percent.
While the Traverse’s sales were only up by 3.1 percent during the third quarter, its year-to-date sales are much more impressive. Chevrolet has sold a total of 106,998 Traverse vehicles this year, a sales increase of 20.4 percent.
In a rather shocking development, Chevy Silverado sales faced some serious sales declines. During the third quarter, Silverado sales were down by 14.3 percent.
Fortunately for Chevy, Silverado sales are still up for the year as a whole. Chevrolet has delivered 424,403 Silverados so far this year, an increase of 1.4 percent year-over-year.
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While Chevrolet’s year-to-date sales were up at the end of the second quarter, they are now slightly down. Overall, Chevrolet has delivered 1,504,038 vehicles in 2018, a slight 0.8 percent decline compared to a year earlier.
You can take an in-depth look at Chevy’s sales in the third quarter using the chart below: