Cars and Drivers
GM Sales Rise on Boost in Pickup Sales, Help From Cadillac
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GM’s new vehicle sales for April were forecast at 263,000 by analysts at Kelley Blue Book and nearly 265,000 by analysts at Edmunds.
The best-selling vehicle in the month was the Silverado pickup, which saw a sales gain of 7.5% to 45,978 units. The GMC Sierra pickups posted a gain of 4.8% in April, and the Acadia sport utility vehicle (SUV) saw a sales gain of nearly 40% to 8,767 units in April.
Cadillac sales rose 13.7%, overcoming a 7% decline in March. Cadillac retail sales rose 1.1% in April, a step in the right direction after an 8.4% drop in March. For the year to date, Cadillac sales are down 1%.
GM reported that fleet sales comprise 27.8% of April sales, up less than a point year-over-year. For the year to date, fleet sales make up 27% of sales, up 1.7 points compared with the first three months of 2014.
Total Chevrolet deliveries in March were up 3.4% year-over-year. The two pickups aside, sales rose most for the compact Equinox SUV (up 42%) and the mid-size Traverse crossover (up 27.6%).
GM said its average transaction price in April reached $34,750, a drop of $450 from March, and up $1,580 year-over-year.
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The company’s Buick brand saw a sales decrease of 5.2% in April. Buick sales are down 4.7% 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 16.7 million for March, down from 16.9 million in March.
GM’s stock traded up about 0.6% Friday morning, at $35.21 in a 52-week range of $28.82 to $38.99.
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