Although GM’s US sales increased 8.9% to its best December in five years, its market share dropped 17.9% reaching a historic low.
In December, GM sold 245,733 vehicles, compared with 234,351 units in 2011, ending the year with 2.6 million units sold, up 3.7% from last year. In December Chevrolet’s sales dropped 3.7% and GMC saw an increase of 4.7%. Buick sales climbed 10% and Cadillac was up 12%.
Although GM’s sales increased, the market share dropped from the 19.7% recorded last year and from 24% in the years before the company’s bankruptcy. According to Mark Reuss, president of GM North America, the market-share loss was expected given the age of the automaker’s products, especially its SUVs and large pickups.
“Our portfolio is the oldest in the industry,” said Reuss. “Give us 18 months, and you’re going to see the whole portfolio turn. It will be the biggest portfolio turn, I think, in U.S. history.”
Reuss added that GM remains the top seller of trucks and cars in the US market and said that the automaker is confident that 2013 will bring market-share gains as it will introduce the redesigned GMC Sierra and Chevrolet Silverado large pickups.