I said it once and I’ll say it again: “don’t count out GM.” Today it announced its fifth consecutive month of double-digit sales gains with a 32-percent gain over May of last year.
I’ll still hold to my past statements and say that this certainly could have been done without the government bailout, but it is nice to see that the company is finally getting its act together, continuing its rebound and positioning itself to regain a global leadership position. I’m actually looking forward to two major GM events this year: a) the public offering of new GM stock and b)the release of the Chevy Volt.
Here is the full release:
Chevrolet-Buick-GMC-Cadillac Post 32 Percent Sales Increase in May
• Fifth Consecutive Month of Double-Digit Combined Sales Gains for GM’s Four Brands
• Calendar-Year-to-Date Sales for GM’s Four Brands are up 31 Percent
• GM Crossovers Sales Are up 81 Percent Year-to-Date
DETROIT – For the fifth straight month, Chevrolet, Buick, GMC and Cadillac together posted a double digit sales gain, with combined sales increasing 32 percent over last May. Year-to-date sales for GM’s four brands have risen 31 percent to 874,749 units – an increase of 206,994 units compared to last year, which is almost twice the volume lost from brands the company has discontinued.
According to Steve Carlisle, vice president, U.S. Sales Operations, GM’s brands have outperformed the market this year on the strength of the company’s newest products. Year-to-date, combined sales of the Chevrolet Equinox, Chevrolet Camaro, Buick LaCrosse and Regal, GMC Terrain and Cadillac SRX and CTS Wagon are up 323 percent.
“Each of our brands has new products that are being received well by customers. In fact, these new vehicles now account for about one in every four retail sales in the U.S.,” said Carlisle. “With each brand launching new vehicles in the next few months, we are optimistic about the remainder of the year.”
Since 2005, crossover sales as a percentage of industry sales have almost doubled. During the same time, sales of GM’s crossovers as a percentage of the company’s sales have more than tripled. May sales of GM’s crossovers – Chevrolet Equinox, HHR and Traverse; Buick Enclave, GMC Terrain and Acadia; and Cadillac SRX – were up 83 percent compared to May 2009, and are up 81 percent year-to-date. Through May, GM leads all automakers in total crossover sales.
According to Carlisle, the company’s crossover growth is an example of its ability to quickly adapt to shifts in the marketplace. “We’re a much leaner and more agile company today and can take advantage of movements in consumer tastes,” said Carlisle.
Chevrolet dealers reported sales of 167,235 – 31 percent higher than May, 2009. Retail sales for the brand were 19 percent higher for the month. Retail sales for Chevrolet’s popular full-size pickups, Silverado and Avalanche, increased 14 percent, while retail sales for the Suburban rose 73 percent. The Chevrolet Silverado, Equinox, Traverse, Avalanche, Malibu and Camaro all posted year-over-year retail sales increases of 10 percent or more (read more).
Buick sales rose 37 percent for the month to 12,582 – the eighth consecutive month of double digit year-over-year sales increases led by the LaCrosse and Enclave. Retail sales for Buick rose 46 percent during May. Buick LaCrosse retail sales increased 191 percent for the month. Year-to-date sales of the LaCrosse have increased 162 percent (read more).
GMC sales of 30,160 were 26 percent higher than last year, while retail sales for the brand were up 37 percent. Retail sales of the GMC Terrain continued to gain momentum, with sales increasing 350 percent for the year-to-date (read more).
Cadillac sales increased 54 percent to 12,328, while retail sales improved 43 percent for the month. CTS retail sales improved 7 percent for the month, and year-to-date sales of the SRX are 439 percent higher than a year ago (read more).
Month-end dealer inventory in the U.S. stood at about 408,000 units, which is about 22,000 lower compared to April 2010, and about 267,000 lower than May 2009.
May Key Facts:
• Eighth Consecutive Month of Combined Sales Gains for GM’s Four Brands
• Chevrolet: Total sales up 31 percent compared to a year ago; retail sales up 19 percent; Chevrolet Equinox retail sales increased 228 percent; Camaro retail sales continued to set the pace for the sport segment with 8,402 deliveries; Chevrolet Traverse retail sales were up 11 percent for the month, and are up 10 percent for the year; Silverado retail sales were up 11 percent for the month.
• Buick: Total sales up 37 percent; retail sales up 46 percent; Buick LaCrosse retail sales rose 191 percent and are up 162 percent for the year; Buick Enclave retail sales rose 14 percent in May and are up 12 percent for the year.
• GMC: Total sales up 26 percent; retail sales up 37 percent; GMC Terrain retail sales were up 569 percent for the month and 350 percent for the year; GMC Acadia retail sales increased 18 percent for the month and are up 24 percent year-to-date
• Cadillac: Total sales up 54 percent; retail sales up 43 percent; Cadillac SRX retail sales were up 605 percent for the month and 439 percent for the year; Cadillac CTS had its best month of the year, with retail sales up 7 percent.
• GM Full-Size Pickups, Full-Size Utilities and Full-Size Luxury Utilities sales rose 17 percent for the month and are up 9 percent year-to-date
• Fleet sales for GM’s four brands were 83,305 for the month.