GM’s new vehicle sales for October were forecast at 231,000 according to Edmunds.com and 236,000 according to Kelley Blue Book. Cadillac’s total sales dropped 8% year-over-year for the month and retail sales were down 9.6% for October.
Total Chevrolet deliveries are up 3.1% year-over-year and Corvette sales were up 145%. The Chevy Cruze posted a sales gain of 51% in October, and year-to-date sales are up 9.7%. For the first 10 months of the year, total sales were up 3.9%, including discontinued models. Cadillac sales were down 4.6% for the first 10 months of the year.
Chevy Silverado pickup sales rose 10.1% in October and are up 6.4% year-to-date. Chevy’s full-size Suburban SUV, however, saw sales fall 18.3% for the month, although sales are up 7.4% year-to-date. It is not too much to say that Silverado saved GM’s bacon again last month.
GM’s new SUVs and pickups continue to be big hits, and GM said its average transaction price in September was the highest ever at $34,700. GMC Sierra pickups sold 18,564 units in October, up 12.5% year-over-year, and total Sierra sales year-to-date are up 9%. Sales of the Savana SUV dropped 1.4% in September but are up about 9% year-to-date. GMC brand sales were down 0.8% in October and are up 8.8% for the year.
For the auto industry as a whole, GM’s forecast for the seasonally adjusted annual rate (SAAR) of sale is 16.4 million.
GM’s stock price was down about 1.37% Monday morning, at $30.97 in a 52-week range of $28.82 to $41.85.
ALSO READ: Ram, Jeep Lead October Chrysler Sales to 13-Year High
Top Gaining Stocks
Top Losing Stocks