General Motors Co. (NYSE: GM) posted total March U.S. sales of 252,128 vehicles, an increase of 0.9% compared with March 2015. Retail deliveries rose 5.9%, fleet deliveries slipped 3.6 points and commercial sales rose 13% in March.
GM’s new vehicle sales for March were forecast at around 254,319 by analysts at Edmunds. Kelley Blue Book estimated an average transaction price in March of $38,005, down about $80 month over month and up about $1,060 year over year. GM reported that its average March transaction prices rose to $35,800, up $1,600 compared with February’s average.
Kelley Blue Book does not include applied consumer incentives to its calculation. GM reported that March incentive spending equaled 10% of its average transaction price, below the industry average of 10.8%.
The best-selling vehicle in the month was the Chevy Silverado pickup, which saw a year-over-year sales increase of 6.1% to 47,966 units. Sales of the GMC Sierra pickups rose nearly 24% in March to 21,548 units, while the Colorado midsized pickup posted a sales increase of 46.8% to 9,718 units.
Cadillac retail sales fell 5.1%, following a 4.2% increase in February. Cadillac sales totaled 13,053 units in March.
Total Chevrolet deliveries in March rose 1.4% year over year to 176,283 units, although retail sales rose 6.8% to 125,920 units.
The company’s Buick brand saw a year-over-year total sales decrease of 11.3% in March and a drop of 5.6% in retail sales.
For the auto industry as a whole, GM’s forecast for the seasonally adjusted annual rate (SAAR) of sales is 17.1 million for March, down from its February estimate of 17.7 million.
GM’s stock traded down about 2.6% Tuesday morning, at $30.62 in a 52-week range of $24.62 to $37.45.
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
