DETROIT – Chevrolet, GMC, Buick and Cadillac dealers in
the United States delivered 249,875 vehicles in March 2015, down 2 percent year
over year. Fleet deliveries were up 5 percent and retail deliveries declined 5
percent. Total sales of trucks, including pickups, vans and SUVs, were up 14
percent. Crossover deliveries were up 6 percent and passenger car deliveries were
down 21 percent.
economy gained steam throughout 2014, we knew 2015 would be a strong year for trucks,”
said Kurt McNeil, General Motors’ U.S. vice president of Sales Operations.
“Higher demand dovetailed perfectly with the launches of our new full-size
pickups and large SUVs. Low fuel prices and the successful launches of the
Chevrolet Colorado and Trax made us even more bullish.
and disciplined approach to incentives is being rewarded with very strong truck
sales and record average transaction prices.”
reported its best-ever March for crossover sales and it was an exceptionally
strong month for pickup trucks. Chevrolet had its best March pickup sales since
2007, with Silverado up 7 percent and the new Colorado repeating as the
industry’s fastest-selling pickup for the second month in a row, taking only 17
“days to turn.”
GMC had its best first quarter sales since 2005 and its best March
pickup sales since 2006, with Canyon deliveries reaching 2,434 units and Sierra
up 3 percent. Approximately 40 percent of Sierra customers purchasing heavy-duty
models are choosing the high-end Denali trim series. This has helped Sierra
earn the highest average transaction prices for any full-size pickup line.
pickup sales also helped drive robust gains with commercial customers. Through March, commercial deliveries have
grown year over year for 17 consecutive months. Commercial deliveries were up 39
percent in March, and full-size pickups were up 41 percent.
increase overall truck production and meet demand for the Chevrolet Colorado
and GMC Canyon, GM’s Wentzville (Mo.) Assembly plant added a third production
shift in March.
have customers lining up for the GMC Canyon and Chevrolet Colorado, so the
additional supply couldn’t come at a better time,” McNeil said.
March Highlights (vs. 2014 except as noted)
The new Trax small crossover, which began arriving
in U.S. showrooms in December 2014, saw deliveries of 4,026 units. Equinox
sales were up 22 percent and Traverse was up 18 percent.
The Sierra, combined with a 16 percent increase in Yukon
XL deliveries, helped GMC increase its sales by 1 percent. GMC has now
delivered 14 consecutive months of year-over-year retail sales increases.
Buick deliveries increased year over year, driven
by a 25 percent increase in LaCrosse deliveries and the best month ever for the
Encore, the vehicle that ignited growth in the small crossover segment.
Demand for the new Escalade continues to grow. Sales
were up 119 percent for the vehicle’s best March since 2008.
Cadillac XTS deliveries increased 11 percent.
Cadillac continues to evolve its business with new
products and brand positioning in the luxury market. Through the end of the
first quarter, nearly 60 percent of customers were new to the brand.
In March, Cadillac’s average transaction prices
(ATPs) approached $54,000, near the top of the brand’s competitive set,
according to J.D. Power PIN estimates. ATPs are up more than $9,000 per unit
from a year ago.
United States, Cadillac is pleased to announce an initiative to expand its
service loaner/courtesy car program to support the customer experience at
Cadillac stores across the country. Cadillac dealers have expanded their
courtesy transportation fleets by approximately 1,000 additional units, which
are reflected in March sales. The revised program further aligns Cadillac to
meet customer expectations for courtesy transportation, providing newer,
fresher vehicles to Cadillac owners while their vehicles are being serviced,
and reducing utilization of daily rental cars for this purpose.
According to PIN estimates, GM’s incentive spending as a percentage of
ATPs was 9.2 percent in March, down 1.6 percentage points month over month
due in part to successful new product launches. Industry average spending was
10.0 percent of ATPs, up 0.4 percentage points.
Average Transaction Prices (ATPs):
ATPs were $35,200, according to PIN estimates through March 22, up more
than $1,200 per unit compared to a year ago and up $725 compared to February
Retail Industry Segmentation:
Trucks, including pickups, SUVs and vans, accounted for about 17 percent
of the industry, according to PIN estimates, up 2 percentage points. Large pickups
alone represented more than 12 percent of the industry, up 1 percentage
Crossovers represented approximately 39 percent of the market, up 2 percentage
Cars represented about 44 percent of the industry, down 4 percentage
Total fleet sales were up 5 percent during the
month and they were up 15 percent in the first quarter.
Government sales were up 19 percent and rental
deliveries were down 6 percent.
GM estimates that the seasonally adjusted annual selling rate (SAAR) for
light vehicles in March was 16.9 million units.
General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce vehicles in 30
countries, and the company has leadership positions in the world's largest and
fastest-growing automotive markets. GM, its subsidiaries and joint venture
entities sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC,
Holden, Jiefang, Opel, Vauxhall and Wuling brands. More information on the
company and its subsidiaries, including OnStar, a global leader in vehicle
safety, security and information services, can be found at http://www.gm.com
In this press release and in related
comments by our management, our use of the words “expect,” “plan,” “anticipate,”
“possible,” “potential,” “target,” “believe,” “commit,” “intend,” “continue,”
“may,” “would,” “could,” “should,” “project,” “projected,” “positioned” or
similar expressions is intended to identify forward-looking statements that
represent our current judgment about possible future events. We believe these
judgments are reasonable, but these statements are not guarantees of any events
or financial results, and our actual results may differ materially due to a
variety of important factors. Among other items, such factors might include:
our ability to realize production efficiencies and to achieve reductions in
costs as a result of our restructuring initiatives and labor modifications; our
ability to maintain quality control over our vehicles and avoid material
vehicle recalls; our ability to maintain adequate liquidity and financing
sources and an appropriate level of debt, including as required to fund our
planned significant investment in new technology; the ability of our suppliers
to timely deliver parts, components and systems; our ability to realize
successful vehicle applications of new technology; and our ability to continue
to attract new customers, particularly for our new products. GM's most recent
annual report on Form 10-K and quarterly reports on Form 10-Q provides
information about these and other factors, which we may revise or supplement in
future reports to the SEC.