GM (GM) October Sales Fall Flat
Tweet
Share
E-mail
Get Alerts GM Hot Sheet
Join SI Premium – FREE
General Motors Co. (NYSE: GM) reported total sales of 186,895 vehicles in October, up 2 percent from last year but well below the 7 percent Wall Street was looking for. Shares of GM are trading down 7.9 percent on the day to $24.36.
Retail deliveries were up 3 percent compared with the same month a year ago and accounted for 77 percent of GM sales. Deliveries to fleet customers were essentially flat.
In October, GM's year-over-year passenger car sales increased 4 percent, crossover sales decreased 1 percent and sales of trucks, which include full-size pickups, vans and SUVs, increased 2 percent. For the month, 2012 models accounted for 80 percent of passenger car sales and about half of truck and crossover sales.
Highlights for October include double-digit sales increases for the Chevrolet Equinox, Camaro and Express, the Cadillac SRX, the Buick Regal and the GMC Terrain, as well as the continued success of the Chevrolet Cruze.
Some negatives for the month include an 11.9 percent decline in total Cadillac deliveries, a 7 percent decline in Buick deliveries, and a 4.6 percent fall in total GMC deliveries. In its Cadillac brand, domestic delivers for its DTS model fell 76.7 percent while its STS deliveries fell 50.5 percent. Domestic deliveries for the Buick Lucerne declined 53.1 percent, while domestic deliveries of the Chevrolet Aveo fell 98.9 percent. The GMC brand was effected by a 32.9 percent decline in domestic deliveries of its Yukon XL and a 26.7 percent decline in its Savana model.
Chevrolet dealers delivered more than 1,100 Volts for the vehicle's best month to date, and GM remains on track to expand Volt availability to 2,600 dealers in all 50 states by the end of the year. The new Chevrolet Sonic also is building momentum, with sales of more than 3,800 units in its second month of launch.
"Chevrolet led the way for GM in October driven by the continued success of the Cruze and Equinox," said Don Johnson, vice president, U.S. Sales Operations. "Chevrolet, Buick, Cadillac and GMC have all performed well this year, which has set the stage for our transition to a higher mix of 2012 model-year vehicles. Combined with the launches of several new fuel-efficient cars, including the Chevrolet Sonic and Buick LaCrosse eAssist, we are very well positioned going forward."
Retail deliveries were up 3 percent compared with the same month a year ago and accounted for 77 percent of GM sales. Deliveries to fleet customers were essentially flat.
In October, GM's year-over-year passenger car sales increased 4 percent, crossover sales decreased 1 percent and sales of trucks, which include full-size pickups, vans and SUVs, increased 2 percent. For the month, 2012 models accounted for 80 percent of passenger car sales and about half of truck and crossover sales.
Highlights for October include double-digit sales increases for the Chevrolet Equinox, Camaro and Express, the Cadillac SRX, the Buick Regal and the GMC Terrain, as well as the continued success of the Chevrolet Cruze.
Some negatives for the month include an 11.9 percent decline in total Cadillac deliveries, a 7 percent decline in Buick deliveries, and a 4.6 percent fall in total GMC deliveries. In its Cadillac brand, domestic delivers for its DTS model fell 76.7 percent while its STS deliveries fell 50.5 percent. Domestic deliveries for the Buick Lucerne declined 53.1 percent, while domestic deliveries of the Chevrolet Aveo fell 98.9 percent. The GMC brand was effected by a 32.9 percent decline in domestic deliveries of its Yukon XL and a 26.7 percent decline in its Savana model.
Chevrolet dealers delivered more than 1,100 Volts for the vehicle's best month to date, and GM remains on track to expand Volt availability to 2,600 dealers in all 50 states by the end of the year. The new Chevrolet Sonic also is building momentum, with sales of more than 3,800 units in its second month of launch.
"Chevrolet led the way for GM in October driven by the continued success of the Cruze and Equinox," said Don Johnson, vice president, U.S. Sales Operations. "Chevrolet, Buick, Cadillac and GMC have all performed well this year, which has set the stage for our transition to a higher mix of 2012 model-year vehicles. Combined with the launches of several new fuel-efficient cars, including the Chevrolet Sonic and Buick LaCrosse eAssist, we are very well positioned going forward."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- DoorDash earns FAA air carrier certification for drone delivery
- Jefferies Upgrades General Motors (GM) to Buy
- Gemini for macOS gets voice-driven dictation and editing tools
Create E-mail Alert Related Categories
Corporate News, Retail SalesSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
