GM’s new vehicle sales for September were forecast at around 246,000 by analysts at Kelley Blue Book (KBB). GM’s average transaction price in September came in at $38,656, up 0.5% month over month and up 3.7% compared with September of last year, according to the KBB analysts. GM reported that its average September transaction prices rose $380 year over year and nearly $800 month over month. KBB does not include applied consumer incentives to its calculation. GM reported that September incentive spending was 11.2% 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 7.1% to 53,725 units. The GMC Sierra pickups posted a gain of 17.8% in September and the Acadia SUV saw a sales gain of 4% to 6,647 units in the month.
Cadillac retail sales slipped 1.6%, following a 9.4% decrease in August. For the year to date, total Cadillac sales are down 1.7% and retail sales are down 4.6%.
Total Chevrolet deliveries in September were up 10.9% year over year. Sales of Camaro rose 2.6% year over year and sales of the Equinox crossover rose 24.7%.
The company’s Buick brand saw a year over year sales increase of 5% in September. Buick sales are down 1.8% 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 of sales is 18.3 million for September, well above the August estimate of 17.5 million.
GM’s stock traded up about 1.4% late Thursday morning, at $30.44 in a 52-week range of $24.62 to $38.99.
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