General Motors (GM) U.S. Sales Fall 6.4% in July; Fleet Sales Dropped 41%
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BUY (
Down)Dividend Yield: 1.2%
Revenue Growth %: +1.9%
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General Motors Co. (NYSE: GM) reported July U.S. sales of 201,237 vehicles, down 6 percent compared with a year ago. Sales to retail customers declined 3 percent. Sales to rental fleet customers declined 41 percent, in line with the company’s previous guidance.
In July, Cadillac sales were up 21 percent thanks to strong across-the-board results for the CTS, Escalade, SRX and the all-new XTS.
“Cadillac hit a home run and our newest Chevrolets and Buicks are performing very well,” said Kurt McNeil, vice president, U.S. Sales Operations. “Signs of a housing recovery and good news on consumer confidence and household income should help keep the light vehicle selling rate in the 14-million range and drive seasonally higher truck sales as we move toward fall.”
All of GM newest vehicles performed well in July. Buick Verano sales were 4,235 units and have increased each month since the car launched in December 2011. Chevrolet Sonic sales were 6,278 units and it has been the retail sales leader in its segment since April 2012. In addition, Chevrolet Spark deliveries were 1,460 in its first month on sale.
GM’s combined retail sales of mini- , small, and compact cars were up 41 percent year over year. Retail passenger car sales in total were up 3 percent, crossover sales were up 2 percent and truck sales were down 12 percent.
Two all-new vehicles – the 2013 Chevrolet Malibu four-cylinder and Cadillac ATS – are now in production. Vehicles launching later this year include the Buick Verano Turbo, Buick Enclave, Chevrolet Malibu Turbo, Chevrolet Traverse and GMC Acadia.
GM said last month that sales to rental customers would be down sharply in July because planned deliveries occurred earlier in the year compared with 2011. GM’s commercial fleet sales were up 41 percent, the 28th consecutive monthly increase. Strong police vehicle deliveries to state and local agencies helped drive a 115 percent increase in government sales. Total fleet sales were down 15 percent.
In July, Cadillac sales were up 21 percent thanks to strong across-the-board results for the CTS, Escalade, SRX and the all-new XTS.
“Cadillac hit a home run and our newest Chevrolets and Buicks are performing very well,” said Kurt McNeil, vice president, U.S. Sales Operations. “Signs of a housing recovery and good news on consumer confidence and household income should help keep the light vehicle selling rate in the 14-million range and drive seasonally higher truck sales as we move toward fall.”
All of GM newest vehicles performed well in July. Buick Verano sales were 4,235 units and have increased each month since the car launched in December 2011. Chevrolet Sonic sales were 6,278 units and it has been the retail sales leader in its segment since April 2012. In addition, Chevrolet Spark deliveries were 1,460 in its first month on sale.
GM’s combined retail sales of mini- , small, and compact cars were up 41 percent year over year. Retail passenger car sales in total were up 3 percent, crossover sales were up 2 percent and truck sales were down 12 percent.
Two all-new vehicles – the 2013 Chevrolet Malibu four-cylinder and Cadillac ATS – are now in production. Vehicles launching later this year include the Buick Verano Turbo, Buick Enclave, Chevrolet Malibu Turbo, Chevrolet Traverse and GMC Acadia.
GM said last month that sales to rental customers would be down sharply in July because planned deliveries occurred earlier in the year compared with 2011. GM’s commercial fleet sales were up 41 percent, the 28th consecutive monthly increase. Strong police vehicle deliveries to state and local agencies helped drive a 115 percent increase in government sales. Total fleet sales were down 15 percent.
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