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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