The FINANCIALK — General Motors, which ended 2017 as the automaker with the fastest-growing crossover sales in the United States, on February 1 reported a 20 percent year-over-year gain in the segment in January, along with a 7 percent increase in truck deliveries.
GM total sales in January totaled 198,548 units, up more than 1 percent, according to GM.
Demand for Chevrolet trucks and crossovers was very robust, helping the brand increase deliveries by 5 percent year over year:
Chevrolet was the fastest-growing crossover brand of 2017, and January deliveries were up 40 percent. The all-new Equinox and Traverse, as well as the Trax and Bolt EV, all posted their best-ever January sales.
Chevrolet’s unique three-truck pickup strategy delivered a 17 percent increase in deliveries, with the Colorado up 25 percent and the Silverado up 15 percent. It was the best January ever for Silverado crew cabs.
Chevrolet Tahoe deliveries were up 22 percent.
“All of our brands are building momentum in the industry’s hottest and most profitable segments,” said Kurt McNeil, U.S. vice president, Sales Operations. “Chevrolet led the growth of the small crossover segment with the Trax as well as the mid-pickup segment with the Colorado. Now, we have the all-new Equinox and Traverse delivering higher sales, share and transaction prices.”
Buick and GMC
Buick and GMC were major contributors to GM’s year-over-year growth in crossover sales and total sales. Buick also saw a major acceleration in LaCrosse deliveries, which contributed to a year-over-year sales increase of 4 percent for the brand.
The GMC Terrain, which is all new for 2018, saw a 14 percent increase.
The GMC Canyon posted a 5 percent gain.
Buick Envision sales were up 14 percent for the vehicle’s best January yet.
Buick LaCrosse sales more than doubled to 3,006 units.
Buick’s crossover momentum will continue to grow with greater availability of the redesigned Enclave, launched late last year, and the Regal TourX, which began arriving in dealerships in January.
Cadillac was strong in several segments, helping the brand earn a 9 percent increase in retail deliveries.
Retail sales of the Escalade were up 12 percent year over year, the vehicle gained more than 2 points of retail segment share and ATPs rose by about $2,300.
In addition, retail deliveries of the Cadillac XT5 crossover rose 9 percent, and the ATS and XTS were up 18 percent and 30 percent, respectively.
Other GM Highlights (vs. 2017)
Retail deliveries were down 2 percent and retail mix of total sales was 76 percent.
Fleet sales were up 16 percent, with combined Commercial and Government deliveries up 44 percent and daily rental deliveries down 7 percent.
GM’s incentive spending was 12.8 percent, down 1 point from a year ago, and down 2 points month over month, according to J.D. Power PIN estimates.
Average transaction prices were up $1,270 year-over-year, according to J.D. Power PIN estimates.