Cars and Drivers
GM November Sales Rise Thanks to Pickups, SUVs
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General Motors Co. (NYSE: GM) posted total November U.S. sales of 229,296 vehicles, an increase of 1.5% compared with November 2014. Retail deliveries rose 4.4%, fleet deliveries slipped 2.2 points and commercial sales rose 6% in October. Total deliveries for the year to date are down 2%, primarily on planned sales reductions to rental customers.
GM’s new vehicle sales for November were forecast at around 230,000 by analysts at Kelley Blue Book (KBB). GM’s average transaction price in October came in at $38,297, up 0.9% month over month and up 1.2% compared with October of last year, according to the KBB analysts. GM reported that its average November transaction prices rose about $580 year over year and $740 month over month, according to estimates by J.D. Power. KBB does not include applied consumer incentives to its calculation. GM reported that October incentive spending equaled 10% of its average transaction price.
The best-selling vehicle in the month was the Chevy Silverado pickup, which saw a year-over-year sales gain of 5.1% to 45,001 units. Sales of the GMC Sierra pickups tumbled 26.7% in November, and the Yukon XL SUV saw a sales gain of 29.8% to 3,137 units in the month.
Cadillac retail sales slipped 3.7%, following a 13% increase in October. For the year to date, total Cadillac sales are down 0.1% and retail sales are down 3.7%.
Total Chevrolet deliveries in November were up 4.8% year over year. Sales of the Equinox crossover rose 5.9% year over year and the new Colorado midsize pickup saw a sales gain of 163%.
The company’s Buick brand saw a year-over-year sales decrease of 16.6% in November. Buick sales are down 3% 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 18.2 million for November, unchanged from the October estimate.
GM’s stock traded down about 0.6% Tuesday midday, at $35.96 in a 52-week range of $24.62 to $38.99.
ALSO READ: Ford Widens Lead in Pickup Sales
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