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Old 10-02-2018, 09:35 AM   #1
FenwickHockey65
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GM Q3 2018 Sales Down 11.1%, 694,638 Units Sold

GM Delivered Nearly 700,000 Vehicles and Record Average Transaction Prices in the Third Quarter
General Motors

October 2, 2018
  • Sharply lower incentives and healthy inventory levels
  • Double-digit growth in large SUVs
  • Best third quarter for midsize pickup sales since 2004
  • Strong commercial sales growth continues

DETROIT — General Motors Co. (NYSE: GM) dealers delivered 694,638 vehicles in the third quarter of 2018 in the United States, with average transaction prices (ATPs) rising about $700 per unit year over year to a new third quarter record of $35,974.

The driving forces behind GM’s record ATPs – which are $4,000 above the industry average – include strong sales of trucks, SUVs and crossovers, and sharply lower incentive spending. During the third quarter, GM’s incentive spending was below the industry average and 2 – 6 percentage points below domestic and many Asian competitors.

“We entered the quarter with very lean inventories of our 2018 model full-size pickups, so we focused on driving a very strong mix of SUVs, crossovers and mid-size pickups,” said Kurt McNeil, U.S. vice president of Sales Operations. “We also transitioned to the 2019 model year far earlier than some key competitors, which allowed us to reduce incentives while others raised them sharply.”

Sales declined 11 percent year over year, with the impact of hurricanes sharply increasing industry and GM sales a year ago and depressing them somewhat this year. The third quarter light vehicle SAAR was 17.2 million units in 2017 and 16.9 million in 2018.

“The U.S. economy and auto industry remain strong,” added GM Chief Economist Elaine Buckberg. “A new United States-Mexico-Canada trade agreement will reduce uncertainty for the auto industry and all three countries. Consumer confidence is high and rising, thanks to the robust job market, faster wage growth and the boost to take-home pay from tax reform. We believe 2018 will be the fourth year in a row with total industry sales above 17 million units.”

“Our brands are very well-positioned for the fourth quarter when our next wave of new products start shipping in high volume,” McNeil added.

Key new product launches are all on track: Dealers began receiving their first shipments of light duty 2019 Chevrolet Silverados and GMC Sierras in September. During the month, Cadillac dealers also began delivering the first-ever XT4 compact crossover. Late in the fourth quarter, Chevrolet will begin production of the all-new Blazer crossover.

Third Quarter Sales Highlights (vs. 2017)
  • Combined sales of the Chevrolet Tahoe and Suburban and the GMC Yukon full-size SUVs were up 12 percent. The Cadillac Escalade was up 2 percent.
  • GM’s mid-size pickups, the Chevrolet Colorado and GMC Canyon, were up a combined 6 percent. It was the best third quarter for GM midsize pickup sales since 2004, driven by the Chevrolet Colorado, which posted its best-ever third quarter sales.
  • The newest crossovers from Chevrolet, Buick and GMC, the Traverse, Enclave and Terrain, were up 3 percent, 7 percent, and 14 percent, respectively.
  • Several passenger car lines posted higher sales, including the Chevrolet Sonic, Spark and Volt, the Cadillac CTS and XTS and the Buick Regal and Cascada.
  • GM’s commercial deliveries, which grew at an average annual rate of 7 percent from 2012-2017, have been strong all year. Deliveries were up 8 percent in the third quarter and up 12 percent calendar year to date.
  • At the end of the quarter, about one-third of GM sales were 2019 models.

Strong Operating Discipline
  • GM’s incentive spending during the third quarter was 12.0 percent of ATP, according to J.D. Power PIN estimates, below the industry average of 12.1 percent and 2-6 percentage points below domestic and some Asian competitors.
  • GM’s third quarter incentive spending was sharply lower than the company’s first half average, which was 13.6 percent. Spending was down 1.6 percentage points year over year in the quarter.
  • GM’s fleet deliveries, up 5 percent year over year, were about 21 percent of total sales during the quarter. More than half of sales were to Commercial and government customers.
  • Rental deliveries are on track to be about 10 percent of total sales for the calendar year, equal to 2017 among the industry leaders.
  • Inventories are at healthy levels, down about 22,000 units year over year at the end of the quarter.
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Old 10-02-2018, 10:01 AM   #2
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Go Impala...lol....

2nd qtr......13,595

3rd qtr...….16,290.....

Not bad for a non-refreshed, one foot in the grave model....lol
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Old 10-02-2018, 10:22 AM   #3
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GM should really just let the Impala train roll as long as possible.
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Old 10-02-2018, 10:32 AM   #4
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"Rental, Fleet, Commercial"...etc....Still pretty confusing on how they portray it....Good now, bad earlier???....Seems like a new theme making an increase sound like a positive, whereas before, the less the better....just wondering...
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Old 10-02-2018, 11:34 AM   #5
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I like the styling of the Impala, but the inside leaves a bit to be desired. Who designed the steering wheel?
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Old 10-02-2018, 12:40 PM   #6
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Quote:
Originally Posted by 90503 View Post
"Rental, Fleet, Commercial"...etc....Still pretty confusing on how they portray it....Good now, bad earlier???....Seems like a new theme making an increase sound like a positive, whereas before, the less the better....just wondering...
It is. I think what they are trying to say is they want to cut down the rental portion of fleet sale but all other types of fleet sales are good

Quote:
Originally Posted by SSJ455 View Post
I like the styling of the Impala, but the inside leaves a bit to be desired. Who designed the steering wheel?
I know right! Seriously, it has to be one of the ugliest steering wheels I have ever seen
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Lets keep it simple. ..
it has more power...its available power is like a set kof double Ds (no matter where your face is... theyre everywhere) it has the suspension to mame it matter...(
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Old 10-02-2018, 01:21 PM   #7
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Quote:
Originally Posted by 90503 View Post
"Rental, Fleet, Commercial"...etc....Still pretty confusing on how they portray it....Good now, bad earlier???....Seems like a new theme making an increase sound like a positive, whereas before, the less the better....just wondering...
Rental fleet: Hertz, Avis, etc. These are considered bad fleet sales.

Commercial fleet: work trucks, vans, company cars. These are considered good fleet sales.

Government fleet: police cars, military trucks, dreaded black suburbans. These are good ... I think. Not 100% positive on that though.


An increase in fleet sales can be good or bad, depending on where the increase is coming from. If fleet sales go up because you dumped 50,000 excess sedans onto rental lots, its bad. On the other hand, if it suddenly became the in thing to issue a Cadillac to everyone at the officer level of a big company ... thats a very good increase to have.
So, to read the tea leaves of the press release ...

Quote:
  • GM’s fleet deliveries, up 5 percent year over year, were about 21 percent of total sales during the quarter. More than half of sales were to Commercial and government customers.
  • Rental deliveries are on track to be about 10 percent of total sales for the calendar year, equal to 2017 among the industry leaders.
I'd say that there was a moderate to large increase in rental fleet sales. But since rental fleet sales are bad, they couldn't outright say that (the bots that buy & sell stock would react negatively). The stuff about commercial & government being over 50%, and rentals being about average is there to temper the bad news. They aren't 'bragging' or claiming that what happened is good; just reminding everyone how things aren't quite that bad. And whenever a company feels compelled to say that, they're usually pretty bad.
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My sister's dentist's brother's cousin's housekeeper's dog-breeder's nephew sells coffee filters to the company that provides coffee to General Motors......
........and HE WOULD KNOW!!!!
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Old 10-02-2018, 05:17 PM   #8
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I've had my '17 Impala for about a year now...Never thought much about the steering wheel being ugly or not one way or another...lol...Ugly is ok..lol...It's round and steers the car just fine,horn works, etc...I'll take a closer look at it one of these days....lol..

Also, likely Impala is doing the lion's share of the "rental" fleet as well....

Last edited by 90503; 10-02-2018 at 05:29 PM.
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Old 10-02-2018, 06:30 PM   #9
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GM has been a non-player in Law Enforcement sales. The Tahoe is awesome, but way too expensive. The Impala was terrible. They need to get the Traverse out there as the crappy exploader is selling great.
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Old 10-02-2018, 06:32 PM   #10
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We're getting Durangos supposedly. FCA cut a huge deal as their way of placating brass after all the issues with Chargers.
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Old 10-02-2018, 06:49 PM   #11
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Yuck. We had Durangoes once. Once.
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