General Motors Co. dealers in the United States delivered 225,818 vehicles last month for the company’s best November sales in seven years. Total sales were up 6 percent compared to a year ago, retail sales were up 5 percent and fleet deliveries were up 11 percent.
GM estimates that the seasonally adjusted annual selling rate (SAAR) for light vehicles in November was 17.1 million, the highest November SAAR since 2003. Calendar year to date, the SAAR is 16.5 million units, which is the upper end of the 16.0 million – 16.5 million range GM forecasted at the beginning of the year.
- Best November ever for Chevrolet Spark, Cruze and Equinox
- Best November for GMC since 2001
- Best November for Buick since 2003
Demand in November was robust for everything from smaller cars and crossovers to big trucks – all segments where GM is strong. The Buick brand had its best November since 2003. GMC had its best November since 2001, and the GMC Sierra had its best November sales ever.
At Chevrolet, the Spark, Cruze and Equinox also had their best November sales ever, Silverado had its best November since 2006 and Traverse had its best November since 2010.
“The buzz around Black Friday helped drive strong showroom traffic but there was a lot more at work in the market,” said Kurt McNeil, U.S. vice president of Sales Operations. “More people have jobs and job security, their wages are starting to increase, household wealth is growing and low pump prices look like they’re here to stay through 2015. All of this helped deliver an exceptional month and it will help keep auto sales at very healthy levels going forward.”
Additional November Highlights (vs. 2013 except as noted)
- The Cruze was up 26 percent, Spark was up 64 percent, Sonic was up 3 percent.
- Silverado was up 24 percent, Tahoe was up 10 percent and Traverse was up 14 percent.
- Dealers delivered 2,366 all-new Colorados, ahead of plan, with a low retail days supply of 21 days.
- GMC was up 23 percent.
- The Sierra was up 57 percent and the Yukon was up 14 percent.
- The Terrain was up 13 percent and 854 all-new Canyons were delivered, which is ahead of plan.
- Buick was up 27 percent.
- Encore had a 72 percent sales increase, LaCrosse was up 71 percent and Verano was up 22 percent.
- Cadillac Escalade deliveries were up 75 percent, with the retail days supply very tight at 16 days.
- Sales of the CTS sedan increased 18 percent.
Average Transaction Prices (ATPs):
- GM has now posted 26 consecutive months of year-over-year average transaction price (ATP) increases on the strength of new pickup trucks, SUVs and Cadillacs.
- ATPs were a record $35,600, according to J.D. Power PIN mid-month estimates, up $790 per unit compared to October and up $3,100 versus a year ago.
- Month over month, GM reduced incentive spending as a percentage of ATPs more than the industry average, according to PIN mid-month estimates, and the company has had the lowest incentives of all domestic automakers on an ATP basis in nine of the last 11 months.
- GM’s November incentive spending as a percentage of ATPs was 10.4 percent, down 1.2 points month over month, while industry average spending was 9.6 percent of ATP, down 0.1 points.
- In November 2013, GM’s incentive spending was 10.2 percent of ATP, and the industry average was 9.7 percent.
Fleet and Commercial:
- Fleet sales were up 11 percent.
- Commercial sales were up 1 percent, marking the 13th consecutive month of year-over-year growth.
- Large SUV commercial fleet sales were up 87 percent and full-size pickup commercial sales were up 47 percent.
General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce vehicles in 30 countries, and the company has leadership positions in the world’s largest and fastest-growing automotive markets. GM, its subsidiaries and joint venture entities sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang, Opel, Vauxhall and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at http://www.gm.com