Another sales report was issued on GM’s sales growth in November, which shows that the automaker’s trucks and crossovers are to “blame”, along with a solid demand for Chevrolet models.
General Motors’ Chevrolet, Buick, GMC and Cadillac brands sold 229,296 vehicles in the United States in November, up 2 percent year over year, with two fewer selling days and sales incentives below the industry average. Demand for Chevrolet trucks rose 10 percent for the 20th consecutive monthly increase, while its crossovers were up 35 percent for the 12th consecutive monthly increase. Crossover deliveries were also solid at Buick, where Encore sales, up 12 percent year over year, have now increased for 23 consecutive months. Total Buick crossover sales were up 11 percent. At GMC, the demand for the same segment rose 12 percent, driven by a 16 percent gain for the Terrain model, while Cadillac’s SRX saw a 53 percent increase. Industry-wide, crossovers now account for 40 percent of the retail industry, up from 37 percent a year ago.
“The phenomenal growth of crossovers in a record-setting market is the biggest sales story of 2015,” said Kurt McNeil, GM’s U.S. vice president of Sales Operations. “Chevrolet’s crossover sales growth is far outpacing the rest of the industry, thanks to the Trax, Equinox and Traverse. And the GMC Terrain is on track to have its best year ever.” The seasonally adjusted annual selling rate for light vehicles was an estimated 18.2 million units in November. The six-month moving average for the SAAR is now estimated to be 17.9 million units. The industry’s best sales year ever was 2000, when 17.8 million light vehicles were delivered. “We believe US auto sales will continue to grow in 2016, based on the underlying strength of the economy, and we expect customers will continue to embrace crossovers and SUVs because they are meeting their fundamental needs for utility, comfort and fuel efficiency,” said Mustafa Mohatarem, GM chief economist.