GM Monthly Sales Tumble in June

Cars and Drivers

Published: July 1, 2015 11:50 am

Last Updated: April 27, 2020 10:15 pm

General Motors Co. (NYSE: GM) posted total June sales of 259,353 vehicles, a drop of 3% compared with June 2014. The June total reflects weaker Chevrolet, Buick and Cadillac brand sales and an 8% increase in GMC brand sales. Retail deliveries were up 4.5%, fleet deliveries were down 0.8% and commercial sales rose 4% in June, including an 18% gain in deliveries of full-size pickups.

GM’s new vehicle sales for June were forecast at around 267,500 by analysts at Edmunds and 284,000 units by the analysts at Kelley Blue Book (KBB). Transaction prices rose 4.2% year over year and were flat compared with April’s average selling price, according to KBB, which also said that GM’s average transaction price rose 0.8% in June.

GM said its average transaction price in May was about $34,000, a drop of $750 from April and up $550 year over year.

GM reported that fleet sales comprised 20.3% of June sales, down 7.4% year over year. For the year to date, fleet sales made up 25.4% of sales, down 0.8% compared with the first six months of 2014.

The best-selling vehicle in June was the Silverado pickup, which saw a sales gain of 18.4% to 51,548 units. The GMC Sierra pickups posted a gain of 20.8% in June, and the Acadia SUV saw a sales gain of 17.4% to 9,421 units in June.

Cadillac sales slipped 3.1%, following a 1.9% decrease in May. Cadillac retail sales slipped 3.1% in June, after falling 1.9% in May. For the year to date, total Cadillac sales are down 1.5% and retail sales are down 4.2%.

Total Chevrolet deliveries in June were up 1.4% year over year. The two pickups aside, sales rose most for the compact Equinox SUV (up 29.8%) and the mid-size Malibu (up 11.3%).

The company’s Buick brand saw a sales decrease of 18.1% in June. Buick sales are down 6.3% for the year to date.

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For the auto industry as a whole, GM’s forecast for the seasonally adjusted annual rate (SAAR) of sales is 17.3 million for June, below the May estimate of 17.6 million.

GM’s stock traded down about 1.3% late Wednesday morning, at $32.90 in a 52-week range of $28.82 to $38.99.

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