Analyzing GM’s Brand-Wise US Retail Sales in July 2017
GM’s retail sales in July 2017
In the first half of 2017, General Motors’ Chevrolet brand’s retail sales fell 1.5% YoY (year-over-year) while the brand’s overall sales fell 6.4% YoY. Similarly, a drop in Chevrolet brands’ retail sales pushed its overall US retail sales down in July 2017. Let’s take a closer look.
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Brand-wise sales in July
In July 2017, the US retail vehicle sales (IYK) performance of GM’s key brands were as follows:
- As the company’s key brand, Chevrolet’s retail sales witnessed a massive YoY fall of 14.1% to 132,533 vehicle units. This was also lower than Chevrolet’s June retail sales of 138,996. Similarly, the Chevrolet brand’s total sales fell 15.3% YoY in July.
- Total US sales of the GMC brand were down at 43,349 vehicle units with a fall of 9.3% YoY. GMC brand’s retail sales also fell 7.3% YoY to 35,016 units in July 2017.
- About 15,966 vehicle units of the Buick brand were sold in July 2017, down 30.5% on a YoY basis. Out of these, 15,811 vehicle units were sold to retail customers, which reflected a YoY drop of 23.4%.
- In July 2017, US sales of Cadillac brand vehicles fell 21.7% YoY, and the retail sales of the brand fell 22.0% to 10,527 vehicle units.
Importance of key brands
Since the early years of General Motors, the Chevrolet brand has been the largest contributor to its revenues. In 2Q17, the retail sales growth of the Chevrolet brand was disappointing. Despite the recent sales drop, Chevrolet remains the most important brand for the company, with the largest contribution among GM’s other brands. In July, Chevrolet accounted for about 65.5% of GM’s total retail sales in the US.
Continue to the final part of this series to see what Wall Street analysts are recommending for the top two US automakers—GM and Ford.