GM’s new vehicle sales for July were forecast at around 264,000 by analysts at Edmunds and 258,000 units by the analysts at Kelley Blue Book.
Transaction prices rose about 1.5% year over year to $33,800, up about $200 compared with June and up about $530 compared with July 2014.
The best-selling vehicle in the month was the Chevy Silverado pickup, which saw a sales gain of 33.9% to 56,380 units. The GMC Sierra pickups posted a gain of 13.3% in July and the Acadia sport utility vehicle (SUV) saw a sales gain of 31.8% to 10,671 units in July.
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Cadillac retail sales slipped 7.1%, following a 3.1% decrease in June. For the year to date, total Cadillac sales are down 2.4% and retail sales are down 4.2%.
GM reported that fleet sales comprise 17.4% of July sales, down 5.6% year over year. For the year to date, fleet sales made up 24.2% of sales, down 1.5% compared with the first seven months of 2014. The company has prioritized retail sales of its Chevy and GMC SUVs to the point where retail sales are up 6% and fleet deliveries are down 68%.
Total Chevrolet deliveries in July were up 7.8% year over year. The two pickups aside, sales rose most for the compact the midsize Malibu (up 18.4%) and the Traverse (up 32.2%). The company’s Buick brand saw a year-over-year sales increase of 17.6% in July. Buick sales are down 3.1% for the year to date.
For the auto industry as a whole, GM’s forecast for the seasonally adjusted annual rate (SAAR) of sales is 17.6 million for July, higher than the June estimate of 17.3 million.
GM’s stock traded up about 0.7% Monday morning, at $31.73 in a 52-week range of $28.82 to $38.99.
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